You are playing the coin-toss game in which you win ($1) for heads and lose ($1) for
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You are playing the coin-toss game in which you win \($1\) for heads and lose \($1\) for tails. After 100 tosses, you are \($10\) in the hole because you have 45 heads and 55 tails. You continue playing until you’ve tossed the coin 1,000 times, at which point you’ve gotten 480 heads and 520 tails. Is this result consistent with what we expect from the law of large numbers? Have you gained back any of your losses? Explain.
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Statistical Reasoning For Everyday Life
ISBN: 9780321904645
4th International Edition
Authors: Jeffrey Bennett, William L. Briggs, Mario F. Triola
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