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... to me the chances for the coin to land on heads a 6th time in a row was slim but to my unsuspecting family members the chances should have been 50/50 What is going on here?What do you guys think of this experiment?
The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the mistaken belief that if something happens more frequently than normal during some period, then it will happen less frequently in the future, or that if something happens less frequently than normal during some period, then it will happen more frequently in the future (presumably as a means of balancing nature). In situations where what is being observed is truly random (i.e. independent trials of a random process), this belief, though appealing to the human mind, is false. This fallacy can arise in many practical situations although it is most strongly associated with gambling where such mistakes are common among players.
We live in the 21st Century. Forget flipping coins. Just use the random number generator in Excel! It should be easier to influence a few electrons than billions of atoms.