Long run of red on a roulette wheel


After observing a long run of red on a roulette wheel, many gamblers believe that black is bound to occur. Such a belief often is called the gambler's fallacy because the roulette wheel has no memory. Which probability-assessment heuristic is at work in the gambler's fallacy? Explain.

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Basic Statistics: Long run of red on a roulette wheel
Reference No:- TGS0752530

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