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MBA,PHD, Juris Doctor
Strayer,Devery,Harvard University
Mar-1995 - Mar-2002
Manager Planning
WalMart
Mar-2001 - Feb-2009
You have just flipped a fair coin 7 times getting all heads. Does the coin owe you a tail? The law of Average predicts you are due for a tail, but it is a myth. So, if using the same fair coin, no because probability of a head on the next toss hasn’t changed.
Is a good hitter in baseball who has struck out the last six times due for a hit his next time up?
Choose the best option
A.     The law of large numbers predicts the hitter is due for a hit
B.     The law of large numbers predicts the hitter is not due for a hit
C.     This is an example of the law of averages. Yes, the hitter is not due for a hit.
D.     This is an example of the so- called law of averages. No, the hitter is not due for a hit because the law of averages is non-existent and doesn’t predict anything
What law is Mythical
Law of Average
Law of Large Numbers
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