3) What is \"Gamblers Fallacy\"? Explain how people misuse th the Law of Average

Question

3) What is "Gamblers Fallacy"? Explain how people misuse th the Law of Averages.(2) e Law of Large Numbers to arrive at 4) Go to Shodor coins toss simulator. http://www.shodor.org/interactivatelactiv ities/Coinl Step and the experimental probability of heads and tails.(4) 1. Have the simulator 'toss' the coin 10 times. Record both the frequency of heads and tails # of ‘tosses' P(heads P(tails) Frequency Heads/Tails 10 50 200 400 Reflect. Do your results reflect the Law of Large Numbers? Explain. (2)

Explanation / Answer

notice that with number of observations increasing, the probabilities are reaching closer to their theoritical values of P(heads) = P(tails) = 0.5

please upvote the answer.

# tosses Freq H/T P(heads) P(tails) 10 4/6 0.400 0.600 50 28/22 0.560 0.440 200 104/96 0.520 0.480 400 193/207 0.483 0.518

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