The belief that,if an event has not occurred for a while,then it is more likely,by the "law of averages," to occur in the near future is known as the:
A) conditional probability.
B) mental model theory.
C) prior probability.
D) gambler's fallacy.

Question

Quizplus · Accepted Answer

The belief that an event is more likely to occur because it has not occurred in a while is a common misconception known as the gambler's fallacy. The idea of the "law of averages" is not a true law of probability and can lead to poor decision-making in situations involving chance.

The Belief That,if an Event Has Not Occurred for a While,then