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Many everyday decisions, like who will drive to lunch or who will pay for the coffee, are made by the toss of a (presumably fair) coin and using the centerion "heads, you will; tails, I will." This criterion is not quite fair, however, if the coin is biased (perhaps due to sightly irregulary construction or wear). John von Neumann suggested a way to make perfectly fair decisions, evevn with a possibly biased coin.  If a coin, biased so that P(h)=0.5400 and P(1)=0.4600, is tossed twice, find the probability P(th)

Many everyday decisions, like who will drive to lunch or who will pay for the coffee, are made by the toss of a (presumably fair) coin and using the centerion "heads, you will; tails, I will." This criterion is not quite fair, however, if the coin is biased (perhaps due to sightly irregulary construction or wear). John von Neumann suggested a way to make perfectly fair decisions, evevn with a possibly biased coin.  If a coin, biased so that P(h)=0.5400 and P(1)=0.4600, is tossed twice, find the probability P(th)

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section: Chapter Questions
Problem 34T
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Many everyday decisions, like who will drive to lunch or who will pay for the coffee, are made by the toss of a (presumably fair) coin and using the centerion "heads, you will; tails, I will." This criterion is not quite fair, however, if the coin is biased (perhaps due to sightly irregulary construction or wear). John von Neumann suggested a way to make perfectly fair decisions, evevn with a possibly biased coin.  If a coin, biased so that P(h)=0.5400 and P(1)=0.4600, is tossed twice, find the probability P(th)

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