Several musical artists are described as "one-hit wonders". Their first hit song or album is incredibly popular, but their second album passes under the radar. Which of the following best describes such occurrences?
A) Expected Utility Theory
B) The Law of Large Numbers
C) Regression to the Mean
D) Both B and C

Question

Quizplus · Accepted Answer

Regression to the Mean explains how after an extreme event, the next event is likely to be closer to the average. In the context of one-hit wonders, an artist's first major hit is an extreme event, and their subsequent work reverting to less popularity is an example of regression to the mean.

Several Musical Artists Are Described as "One-Hit Wonders