What does it mean to say we expect a fair coin to come up heads about half

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What does it mean to say we expect a fair coin to come up heads about half the time? Would you expect the fraction of heads to get closer to exactly 0.5 as more coins are flipped? Explain how this law of large numbers applies to the risks faced by casinos or insurance companies.
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Intermediate Microeconomics and Its Application

ISBN: 978-1133189039

12th edition

Authors: Walter Nicholson, Christopher M. Snyder

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