Statistical & Probability Biases Flashcards

(17 cards)

1
Q

Base Rate Fallacy

A

Ignoring general probability data.

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2
Q

Law of Small Numbers

A

Assuming small samples are representative.

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3
Q

Gambler’s Fallacy

A

Believing random events influence future outcomes.

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4
Q

Hot Hand Fallacy

A

Believing success continues due to momentum.

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5
Q

Regression to the Mean

A

Misinterpreting natural variation as trends.

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6
Q

Survivorship Bias

A

Focusing on visible successes while ignoring failures.

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7
Q

Sampling Bias

A

Drawing conclusions from non-representative samples.

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8
Q

Selection Bias

A

Distortion caused by how data is selected.

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9
Q

Observer Bias

A

Measurement influenced by expectations.

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10
Q

Measurement Bias

A

Error introduced by flawed measurement methods.

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11
Q

Clustering Illusion

A

Seeing patterns in random data.

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12
Q

Risk Compensation

A

Taking greater risks when perceived safety increases.

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13
Q

Zero-Risk Bias

A

Preferring elimination of small risks over larger reductions.

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14
Q

Denominator Neglect

A

Ignoring relative proportions.

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15
Q

Misleading Averages

A

Relying on averages that hide variability.

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16
Q

Texas Sharpshooter Fallacy

A

Defining patterns after results are known.

17
Q

Prosecutor’s Fallacy

A

Confusing conditional probabilities.