Not necessarily. What @rkpeterson is describing is increased precision (the amount of variability between measurements.) You're describing statistical averaging.
I think I'm discussing regression to the mean as well but in any case - The more values one has - the more likely one can determine whether any given one is a 'fluke' . For example if you test 1 x / week - and you have 4 values that are 6, 6, 6, and 7.5 you can be much less sure that the 7.5 is a potential error than if you tested every hour - and had 100 values that were 6 - and the last one 7.5
