"Wisdom of Crowds" experiment I did

I have been wanting to do this for a long time. I highly recommend watching a video or two about the power of crowds over individual thought. It relates to crowd sourcing and many other thing that will keep you up at night pondering.

Basically I asked a bunch of people to guess how many coins I had in a jar and how much money it would add up to. If you average out many guesses they usually average out to almost exact. Where if you just guess individually you rarely come close.

Warning these videos are both 10+ minutes long and I go on and on a little bit. But I thought some of you might find it interesting. enjoy

Part 1 the setup and visual of the jar
http://www.liveleak.com/view?i=91c_1410213499

Part 2 the results
http://www.liveleak.com/view?i=612_1410475585