Toss Some Coins : Slide 9

When tossing a single coin, it will land either heads or tails, but its outcome is totally unpredictable. If we assume independent tosses, i.e., we do not tie the coins together, we can expect, from an infinite number of tosses, that exactly half will come out heads and half, tails. If we only make a hundred tosses, we can expect these criteria to still hold with a plus or minus 30% error. At a million tosses, the error is 0.6%. These independent multiple tosses become more accurate as more events are independently activated. This works well for movie productions, bank loans, home shopping purchases, insurance statistics, and even research and development projects.

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