Topic IX. Seeing Patterns in Random Noise
Context for this filter:
- B. CONCEPT ACQUISITION
- Gambler’s fallacy: Expecting that streaks will be broken, such that future results will “average out” earlier ones, even when all trials are independent.
- C. CONCEPT APPLICATION
- Recognize and explain the flaw in everyday scenarios in which people mistake noise for signal (e.g. Look Elsewhere Effect, gambler’s fallacy, hot-hand effect).