Describe the gambler fallacy in brief

Reference no: EM131772440

Question: Suppose a friend reports that she has just had a string of "bad luck" with her car. She had three major problems in as many months and now has replaced many of the worn parts with new ones. She concludes that it is her turn to be lucky and that she shouldn't have any more problems for a while. Is she using the gambler's fallacy? Explain.

Reference no: EM131772440

Questions Cloud

Analyze the impact on the income statement : Generate a projected income statement based on the given scenario

Discuss what is the yield to maturity of this bond : The bond has a coupon rate of 5.1 percent paid annually and matures in 13 years

Why was the professor announcement a blunder : A statistics professor once made a big blunder by announcing to his class of about 50 students that he was fairly certain that someone in the room would share.

Define the process used to evaluate system changes : Define the process used to evaluate system changes, including any effect on budgeting and resources, such as time or people, or the severity of the change.

Describe the gambler fallacy in brief : Suppose a friend reports that she has just had a string of "bad luck" with her car. She had three major problems in as many months and now has replaced.

Explain the tax consequences if the shares are held by trust : Explain the tax consequences if the shares are held by the trust at the time Mrs. B dies

What version of ssh is the target running : What version of SSH is the target running? What version of FTP is the target running? What is port 5900 used for on the target? What OS is running on target?

Calculating the yearly accident probability : Find out your yearly car insurance cost. If you don't have a car, find out the yearly cost for a friend or relative.

Discuss ending inventory using a perpetual inventory system : Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system

User Account

All Pages