Gambler's Fallacy - Example + Video [Class 9 Ganita Manjari Part 1] - Analysing Statistical Data Using Probability

part 2 - Gambler's Fallacy - Analysing Statistical Data Using Probability - Chapter 7 - The Mathematics of Maybe: Introduction to Probability - Class 9
part 3 - Gambler's Fallacy - Analysing Statistical Data Using Probability - Chapter 7 - The Mathematics of Maybe: Introduction to Probability - Class 9

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Transcript

Gambler's Fallacy The Gambler's Fallacy is the false belief that past events affect future independent events. WHAT IS IT? he FALSE BELIEF that a run of imilar random outcomes makes a ifferent outcome more likely soon. THE SCENARIO: 6 HEADS IN A ROW3 THE MISUNDERSTANDING 4 THE TRUTH: INDEPENDENT EVENTS 4a THE COIN HAS NO MEMORY 4b THE PROBABILITY REMAINS UNCHANGED The coin does not keep track. Each flip is independent.5 CONCLUSION Don't be fooled! Previous random outcomes do not influence the current one. EACH FLIP STARTS AFRESH!

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