Regression to the mean is a technical way of saying that things tend to even out over time. The sprinter that breaks the world record will probably run closer to his average time on the next race; or the medical treatment that achieves stunning results on the first trial, will probably not be as efficacious on the second. Specifically, it refers to the tendency of a random variable that is highly distinct from the norm to return to "normal" over repeated tests. On average, observations tend to cluster around the mean,
[1] whether or not they follow a really unusual value. It only becomes most obvious when a strange result (e.g. a hole-in-one in golf) is followed by something much more ordinary (a double-bogey)...
Sports
One way of thinking about "regression to the mean" is in terms of sports performance. In order to win a football championship, for example, it is not enough only to be a good team -- one needs to be both good
and lucky. The team at the top of the standings in mid-season is likely to have been both good and lucky to that point, but cannot count on still being lucky for the rest of the season. For this reason, the team that is at the top of the standings at midseason is more likely to drop in standings than to remain at the top, and more likely to remain at the top than to improve (how does one improve from "the top," anyway?).
This observation has been tagged the "Sports Illustrated Jinx". The jinx states that a player or team featured on the cover of a sports magazine such as
SI is likely to have a disappointing year the following season (or even a disappointing game the following week). But if you think about it, a player is only likely to make the cover once, and for some surprisingly good performance - something truly spectacular that requires not only their superlative skill, but also lots of luck to beat the superlative skill of their competitors. Athletes on the cover of
Sports Illustrated are likely to be at the very top of their game, and at the top, the most likely direction to move next is
down. The next year, although the player may still be as skilled, he or she will not be as lucky, and post scores closer to "typical".
http://rationalwiki.org/wiki/Regression_to_the_mean