Jack Flipped a Coin Five Times and Each Time It

question 49

Multiple Choice

Jack flipped a coin five times and each time it came up heads.His friend Atmel saw this and bet Jack that the next flip would come up tails.Atmel figured that it was overdue for a tails and so tails was a more likely outcome in the next flip.Atmel has fallen prey to:

• A)sunk cost fallacy.
• B)reductio ad absurdum.
• C)argumentum ad hominem.
• D)gambler's fallacy.

---

Definitions:

Target Customers

The specific group of consumers a business aims to reach with its products, services, and marketing efforts.

Consumer Packaged-goods

Products that are sold in a packaged form, which consumers use up and replace on a frequent basis.

Exclusive Distribution

Strategy in which only selected retailers can sell a manufacturer’s brand.

Retailing

The set of business activities that add value to products and services sold to consumers for their personal or family use; includes products bought at stores, through catalogs, and over the Internet, as well as services like fast-food restaurants, airlines, and hotels.