On a Series of Coin Tosses,Oleg Has Correctly Predicted Heads

question 297

Multiple Choice

On a series of coin tosses,Oleg has correctly predicted heads or tails seven times in a row.In this instance,we can reasonably conclude that Oleg's predictive accuracy

• A) defies the laws of statistical probability.
• B) illustrates hindsight bias.
• C) is inconsistent with the placebo effect.
• D) is a random and coincidental occurrence.

---

Definitions:

Economic Decisions

Choices made by individuals, households, firms, or governments regarding allocation of scarce resources to satisfy various needs and desires.

Tax Revenue

Tax Revenue refers to the income that is gained by governments through taxation, which is then used to fund public services and governmental operations.

Excess Burden

The additional cost to society beyond taxes collected resulting from inefficiencies in market outcomes due to taxation or regulations.

Tax Revenue

Funds accumulated by governments as a result of taxation.