Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I am getting confused with these probability questions, could you help explain the following: A bag contains 4 coins. You are told that one of

I am getting confused with these probability questions, could you help explain the following:

A bag contains 4 coins. You are told that one of them is a normal coin; however, 1 coins aredouble-headed (i.e., both sides are heads), and 2 is double-tailed.The coins cannot be distinguished unless you check both sides of a coin.

For each of the following question, you pick out a coin C from the bag uniformly at random.

(1) You toss C for 1 time.What is the probability that the lower face of the coin is heads?

(2) You check and see that the upper face of the coin C is a head. What is the (conditional) probability that the lower face is head?

(3) You toss C for 1 time and the lower face is head. So You toss the coin C again. What is the (conditional) probability that the lower face is still head?

(4) If for the 2tosses of C, you seeone head and one tail for the upper face. Which coin would you guess (normal, double-headed, or double-tailed)? What is the probability that you are wrong?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Introduction to the Mathematics of financial Derivatives

Authors: Salih N. Neftci

2nd Edition

978-0125153928, 9780080478647, 125153929, 978-0123846822

More Books

Students also viewed these Mathematics questions

Question

LO1.2 Describe the role of economic theory in economics.

Answered: 1 week ago