Suppose a Student Tosses a Fair Coin Consecutively Seven Times $\frac { 4 } { 5 }$

question 19

Multiple Choice

Suppose a student tosses a fair coin consecutively seven times and gets tails each time. Which belief about the probability of getting tails on the next toss is not consistent with the hot-hand fallacy?

• A) The probability of getting heads on the next toss is \(\frac { 4 } { 5 }\) .
• B) The probability of getting heads on the next toss is \(\frac { 5 } { 6 }\) .
• C) The probability of getting heads on the next toss is \(\frac { 6 } { 10 }\) .
• D) The probability of getting heads on the next toss is \(\frac { 9 } { 10 }\) .
• E) The probability of getting heads on the next toss is \(\frac { 1 } { 2 }\) .

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Definitions:

Participatory Process

A decision-making approach that involves input and active involvement from all stakeholders or group members.

Budgeting

The process of creating a plan to spend your money over a specified period, outlining projected income and expenses.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specified period, helping manage cash flow and liquidity.

Capital Expenditures Budget

A budget that outlines planned investments in long-term assets and projects, emphasizing spending on acquiring or upgrading physical assets.