Well, yes and no.
If you're looking at sound pressure levels, in a free field, then it's a 6dB decrease with doubling distance. 3dB is a doubling of power and 10dB is an apparent doubling of loudness.
The 10dB value is also conflated by our (humans) non-linear frequency perception, where we naturally perceive frquencies around the conversational area to be louder.
According to one reference on t'interweb, 96dB is (roughly) equivalent to a Boeing 737 or DC-9 aircraft at 1 nautical mile before landing. I live directly under the flightpath for Runway 2 at Manchester airport and the sound/noise of a 737 has never concerned me. However, having lived here as long as I have, I rarely pay much attention to them, which highlights the problem of perception.