The Gambler's Fallacy Is

question 67

Multiple Choice

The gambler's fallacy is

• A)true in many games, such as flipping coins.
• B)a result of overconfidence.
• C)the false belief that past events affect current dependent outcomes.
• D)the false belief that past events affect current independent outcomes.

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Definitions:

Z Statistic

The Z statistic, or Z-score, is used in hypothesis testing, measuring the number of standard deviations a datapoint is from the population mean.

P-value

A measure in statistical hypothesis testing representing the probability of obtaining a result at least as extreme as the one observed, under the assumption that the null hypothesis is true.

Confidence Interval

A set of numbers obtained from statistical data from a sample, which is expected to encompass the value of a parameter from the overall population that is not known.

Defective

Describes an item that fails to meet quality standards or specifications, often resulting in malfunction or unsuitability for intended use.