Search results for 'gambling':

gambling fallacy (noun) : the false belief that the outcome of an upcoming random event (such as a blackjack hand or a craps roll) depends, even in part, on previous outcomes [that is, if you flip a coin 20 times and it always comes up heads, believing that there is a greater than 50% chance that it will come up tails on the next flip]

Unless you have studied the basics of statistics and probability, you are very likely to commit the gambling fallacy, which is normal for everyone. —I got word from my statistics prof, Dr Charles Dugan, III (SBCC Psych Dept), dunno

Submitted by: jonathan keith sheriff from California on Oct. 28, 2005 16:05

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