UCI Probability of Winning a Large Amount of Money on A Single Coin Toss Problem
Description
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You are supposed to bet a large amount of money on the outcome of a single coin toss. However,you do not know the probability p with which the coin lands on heads (it could be any valuein [0, 1]). But you are allowed to toss the coin three times before you place your bet (threepractice tosses). In the following, we will discuss two different strategies on how to possiblyincrease your chances of winning.
