Quiz 6: Second B Level Question
AZobi
You toss a coin 100,000 times. The coin lands on heads exactly 50,000 times. You say that the coin is fair if the probability of heads for the coin is between .49 and .51. Estimate the probability that the coin is not fair?
ShivaniGillon: March 8, 2015, 10:26 a.m.
For this question, I got 1/(4*100,000*(0.01)^2)
weisbart: March 8, 2015, 12:48 p.m.
Remember, the probability is estimated. How does the probability relate to the number you get?
rachelobrien: March 8, 2015, 1:36 p.m.
Instead of an equal sign you should put a less than or equal to sign based off of the Markov Inequality equation since it calculates an upper bound for the probability not an exact value. So it would be P < 1/(4*100000)(.01)^2