If the bookmakers who run sports betting operations were to set fair odds, so that both the house and those placing bets had expected values of zero, then the probabilities for all of the players should sum to 1, but they don't. Do they sum to a higher or lower value, and why?
Question 2
Research shows that people tend to detect patterns even where none exist, and to __________ the degree of clustering of outcomes in sports events, as in other sequential data (for example the chance of being on a shooting streak in basketball).
Fill in the blank(s) with correct word