What about you, do you know the answer?

Question

Which of the following statements best describes the "gambler's fallacy?"

a. The tendency to choose risk over small, guaranteed alternatives
b. The belief that random processes are self-correcting
c. The tendency to believe that one can control chance events
d. The lack of knowledge people have about probability

Answer 1

D.

According to Wikipedia:

'The gambler's fallacy, also known as the Monte Carlo fallacy, is a formal fallacy. It is the incorrect belief that the likelihood of a random event can be affected by or predicted from other, independent events.

It can take form as one of these events:

1) A particular outcome of a random event is more likely to occur because it has happened recently ("run of good luck");

2) A particular outcome is more likely to occur because it has not happened recently ("law of averages" or "it's my turn now").

3) A particular outcome is less likely to occur because it has happened recently ("law of averages" or "exhausted its luck");

4) A particular outcome is less likely to occur because it has not happened recently ("run of bad luck").

Take flipping a coin for example. Getting a tail has a probability of 50%, but if a tail is repeatedly gained, people may say a tail is more likely next time because of the tails before it, despite the fact that the probability is still 50%.

Answer 2

In my opinion, gambling is an addiction. Just like any other addicts they simply can not control themselves and do it. They do not think much about it. If they do not have the money they even steal it for gambling.

Answer 3

I would say "A"

Answer 4

i guess A.

Answer 5

B.