Which of the Following Is an Example of the Gambler's

question 16

Multiple Choice

Which of the following is an example of the gambler's fallacy?

• A) "I know the chances of winning the lottery are small, but someone has to win it and I could be the one!"
• B) "I've gotten a low number the last eight times I've rolled the dice, so a high number is coming up soon!"
• C) "There's an equal chance for any team to win the league's championship."
• D) "The best strategy at the horse races is to bet in the same way as the crowd is betting."

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Definitions:

Business Creditors

Individuals or institutions that a company owes money to due to past transactions, such as suppliers or banks.

Partnership

Association of two or more persons who operate a business as co-owners by voluntary legal agreement.

Debts

Money that is owed or due to be paid to another individual or entity.