Final answer:
The gambler's fallacy is the belief that future chance events will be more likely if they have not happened recently. However, this belief is incorrect because each individual event is statistically independent.
Step-by-step explanation:
The gambler's fallacy is the belief that future chance events will be more likely if they have not happened recently. However, this belief is incorrect because each individual event is statistically independent. For example, if you flip a coin many times in a row and get a string of heads, it does not make it more likely that you will flip tails on the next coin flip. Each coin flip has an equal chance of turning up heads or tails.
It is important to understand that past events do not influence the probability of future events. In the case of the gambler's fallacy, the belief that past outcomes can somehow impact future outcomes is a misconception. Each event, such as a coin flip or a roll of the dice, has its own probability and is unaffected by previous events.
When making decisions or forming beliefs about probabilities, it is crucial to consider the underlying probabilities of each event and not be influenced by past outcomes.