How can you tell if a given coin is biased?

This isn't a trick question. The answer is simply to perform a hypothesis test:

1. The null hypothesis is that the coin is not biased and the probability of flipping heads should equal 50% (p=0.5). The alternative hypothesis is that the coin is biased and p != 0.5.
2. Flip the coin 500 times.
3. Calculate Z-score (if the sample is less than 30, you would calculate the t-statistics).

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