I toss a penny and observe whether it lands heads up or tails up. Suppose the penny is fair, i.e., the probability of heads is 1/2 and the probability of tails is 1/2. This means that a regardless of...

Extracted text: I toss a penny and observe whether it lands heads up or tails up. Suppose the penny is fair, i.e., the probability of heads is 1/2 and the probability of tails is 1/2. This means that a regardless of the number of flips, half will be heads and half tails O b every occurrence of a head must be balanced by a tail in one of the next two or three tosses. if I flip the coin 10 times, it would be almost impossible to obtain 7 heads and 3 tails. O d if I flip the coin many, many times the proportion of heads will be approximately 1/2, and this proportion will tend to get closer and closer to 1/2 as the number of tosses increases.