Sentences with phrase «fair coin»

Consider a large ensemble of fair coins which are each tossed 6 times.
To give you an idea why variance matters, supposed you were offered a lottery which has two outcomes based on the flip of fair coin: Heads - $ 1 million, Tails - you lose your house and all your possessions.
Coin Toss is Heads / Tails (Sportsbook.ag) Heads -102 Tails -102 When flipping a fair coin the chance of it landing on -LSB-...]
Knowing it's a fair coin, you assume your odds are 50/50, so you choose tails.
In a back room in a Las Vegas casino, you are handed a fair coin to flip.
For instance, I give you an unfair coin, but you don't know what the «weight» is and I ask you to determine how to sample from a fair coin using only this unfair coin.
The «obviously wrong» null hypothesis of a fair coin at least enables you to compute it.
None of you can even predict next throw of a fair coin — or anything else of significance.
Answer: It's substantially less reliable than flipping a fair coin.
The probability of 0H or 1H is over 10 % even for a fair coin, and the distribution of the large ensemble will show this.
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