Does the truth of the Law of Large Numbers contradict the fact that the Gambler's Fallacy is, indeed, a fallacy? Imagine you start your day flipping 10 coins and 8 of the 10 of those flips are tails. On the one hand, the Law of Large Numbers implies that the heads will, in time, "catch up" to the tails. On the other hand, the Gambler's Fallacy teaches us to be wary of the idea that the heads will "catch up". What's the catch? Is there a contradiction here? No, there is not. This video explains why.
21 сен 2024
