You are employed as a commission-based sales clerk for a cosmetics retail store. You know that on average; exactly 50 percent of the customers that enter your store will make at least one purchase. Thus far this morning, you have waited on eight customers without making a single sale. You are convinced that the next customer you wait on will buy something. This belief is known as:
A) Aversion to ambiguity.
B) The law of small numbers.
C) Anchoring and adjusting.
D) Gambler's fallacy.
E) False consensus.

Question

Quizplus · Accepted Answer

This belief is known as the Gambler's fallacy, which is the mistaken belief that if an event hasn't occurred for a while, it is more likely to occur in the near future, despite the probability of such events being independent.

You Are Employed as a Commission-Based Sales Clerk for a Cosmetics