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  2. Checking whether a coin is fair - Wikipedia

    en.wikipedia.org/wiki/Checking_whether_a_coin_is...

    (Note: r is the probability of obtaining heads when tossing the same coin once.) Plot of the probability density f(r | H = 7, T = 3) = 1320 r 7 (1 − r) 3 with r ranging from 0 to 1. The probability for an unbiased coin (defined for this purpose as one whose probability of coming down heads is somewhere between 45% and 55%)

  3. Likelihood function - Wikipedia

    en.wikipedia.org/wiki/Likelihood_function

    Consider a simple statistical model of a coin flip: a single parameter that expresses the "fairness" of the coin. The parameter is the probability that a coin lands heads up ("H") when tossed. can take on any value within the range 0.0 to 1.0. For a perfectly fair coin, =. Imagine flipping a fair coin twice, and observing two heads in two ...

  4. Coin flipping - Wikipedia

    en.wikipedia.org/wiki/Coin_flipping

    Coin flipping, coin tossing, or heads or tails is the practice of throwing a coin in the air and checking which side is showing when it lands, in order to randomly choose between two alternatives. It is a form of sortition which inherently has two possible outcomes.

  5. Bernoulli distribution - Wikipedia

    en.wikipedia.org/wiki/Bernoulli_distribution

    In probability theory and statistics, the Bernoulli distribution, named after Swiss mathematician Jacob Bernoulli, [1] is the discrete probability distribution of a random variable which takes the value 1 with probability and the value 0 with probability =.

  6. St. Petersburg paradox - Wikipedia

    en.wikipedia.org/wiki/St._Petersburg_paradox

    The St. Petersburg paradox or St. Petersburg lottery [1] is a paradox involving the game of flipping a coin where the expected payoff of the lottery game is infinite but nevertheless seems to be worth only a very small amount to the participants. The St. Petersburg paradox is a situation where a naïve decision criterion that takes only the ...

  7. Gambler's fallacy - Wikipedia

    en.wikipedia.org/wiki/Gambler's_fallacy

    If a fair coin is flipped 21 times, the probability of 21 heads is 1 in 2,097,152. The probability of flipping a head after having already flipped 20 heads in a row is ⁠ 1 / 2 ⁠. Assuming a fair coin: The probability of 20 heads, then 1 tail is 0.5 20 × 0.5 = 0.5 21; The probability of 20 heads, then 1 head is 0.5 20 × 0.5 = 0.5 21

  8. Law of large numbers - Wikipedia

    en.wikipedia.org/wiki/Law_of_large_numbers

    For example, a fair coin toss is a Bernoulli trial. When a fair coin is flipped once, the theoretical probability that the outcome will be heads is equal to 1 ⁄ 2. Therefore, according to the law of large numbers, the proportion of heads in a "large" number of coin flips "should be" roughly 1 ⁄ 2.

  9. Fair coin - Wikipedia

    en.wikipedia.org/wiki/Fair_coin

    A fair coin, when tossed, should have an equal chance of landing either side up. In probability theory and statistics, a sequence of independent Bernoulli trials with probability 1/2 of success on each trial is metaphorically called a fair coin. One for which the probability is not 1/2 is called a biased or unfair coin.