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  2. Coin flipping - Wikipedia

    en.wikipedia.org/wiki/Coin_flipping

    Coin flipping, coin tossing, or heads or tails is the practice of throwing a coin in the air and checking which side is showing when it lands, in order to randomly choose between two alternatives. It is a form of sortition which inherently has two possible outcomes.

  3. Penney's game - Wikipedia

    en.wikipedia.org/wiki/Penney's_game

    Player A selects a sequence of heads and tails (of length 3 or larger), and shows this sequence to player B. Player B then selects another sequence of heads and tails of the same length. Subsequently, a fair coin is tossed until either player A's or player B's sequence appears as a consecutive subsequence of the coin toss outcomes. The player ...

  4. Checking whether a coin is fair - Wikipedia

    en.wikipedia.org/wiki/Checking_whether_a_coin_is...

    The symbols H and T represent more generalised variables expressing the numbers of heads and tails respectively that might have been observed in the experiment. Thus N = H + T = h + t. Next, let r be the actual probability of obtaining heads in a single toss of the coin. This is the property of the coin which is being investigated.

  5. Gambler's fallacy - Wikipedia

    en.wikipedia.org/wiki/Gambler's_fallacy

    When flipping a fair coin 21 times, the outcome is equally likely to be 21 heads as 20 heads and then 1 tail. These two outcomes are equally as likely as any of the other combinations that can be obtained from 21 flips of a coin. All of the 21-flip combinations will have probabilities equal to 0.5 21, or 1 in 2,097,152. Assuming that a change ...

  6. St. Petersburg paradox - Wikipedia

    en.wikipedia.org/wiki/St._Petersburg_paradox

    The St. Petersburg paradox or St. Petersburg lottery [1] is a paradox involving the game of flipping a coin where the expected payoff of the lottery game is infinite but nevertheless seems to be worth only a very small amount to the participants. The St. Petersburg paradox is a situation where a naïve decision criterion that takes only the ...

  7. Fair coin - Wikipedia

    en.wikipedia.org/wiki/Fair_coin

    If a cheat has altered a coin to prefer one side over another (a biased coin), the coin can still be used for fair results by changing the game slightly. John von Neumann gave the following procedure: [4] Toss the coin twice. If the results match, start over, forgetting both results. If the results differ, use the first result, forgetting the ...

  8. Matching pennies - Wikipedia

    en.wikipedia.org/wiki/Matching_pennies

    If one penny is heads and the other tails, Odd wins and keeps both coins. Matching pennies is a non-cooperative game studied in game theory. It is played between two players, Even and Odd. Each player has a penny and must secretly turn the penny to heads or tails. The players then reveal their choices simultaneously.

  9. A Penny for Your Thoughts (The Twilight Zone) - Wikipedia

    en.wikipedia.org/wiki/A_Penny_for_Your_Thoughts...

    Mr. Hector B. Poole, resident of the Twilight Zone. Flip a coin and keep flipping it. What are the odds? Half the time it will come up heads, half the time tails. But in one freakish chance in a million, it'll land on its edge. Mr. Hector B. Poole, a bright human coin - on his way to the bank.