Let’s assume that I think all video poker machines in Nevada are fair — and when I say fair I mean that each unseen card has an equal probability of showing up next. Now let’s assume that I play 200,000 hands of single line Jacks or Better and do not hit a royal. That’s about five cycles. The chances that I will go the next five cycles without a royal on a fair machine are about 1-in-150.
You then ask me if I still think the machines are fair. My answer is going to be, “Yes, the machines are most likely fair.” My ‘prior belief’ dominates my belief system. Continue reading How Do You Convince Somebody?
