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Problem 5: The slogan misapplies prior probability — humans are bad at estimating probabilities

Do Extraordinary Claims Require Extraordinary Evidence? Nah. 00:31:24 – 00:31:55

Fifth and final critique, focused on the prior probability dimension.

Mike argues we are poor at guessing probabilities intuitively. He uses a personal anecdote: he bet his friend Jaime that he couldn't jump a fountain, based on an erroneous prior probability assessment. His friend jumped it. Moral: prior probability assessments based on intuition, without evidence, lead to wrong conclusions.

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