Consider the following scenario when answering the following questions:
Corey and Trevor are playing a coin-tossing game where each player,in turn,tosses a fair coin consecutively 10 times.The winner of the game is the player who tosses the most consecutive tails.Corey decides to go first and tosses tails five times in a row.Ricky and Julian are observing the game and have the following conversation before Corey attempts the sixth toss:
Ricky: The probability of Corey tossing tails has to be greater than 75 percent because he is on a roll!
Julian: No,Ricky,the probability of Corey tossing tails has to be less than 25 percent because he is due to toss heads.
-Ricky's statement is an example of ________ fallacy,and Julian's statement is an example of the ________ fallacy.
A) the hot-hand; hot-hand
B) the gambler's; gambler's
C) the hot-hand; gambler's
D) the gambler's; hot-hand
E) neither the gambler's fallacy nor the hot-hand; gambler's

Question

Quizplus · Accepted Answer

Ricky's belief that Corey's success will continue is an example of the hot-hand fallacy, while Julian's belief that a heads toss is overdue because of the previous tails is an example of the gambler's fallacy.

Consider the Following Scenario When Answering the Following Questions