Quote:
Originally Posted by boys at tosconova
my friend once flipped a coin and 15 times in a row it came up heads.
after the 15th time i was convinced that this streak couldn't continue so i wagered him 100 bucks that it was going to tails. it was heads again.
i thought that the law of averages was on my side that if i did lose this hundo i would double up and make it back. thing is it came up heads 4 more times and i went busto.
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The "Monte Carlo Fallacy". The mistaken belief that, if something happens more frequently than normal during some period, it will happen less frequently in the future.
