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Essay / Take Risks with Proability - 551
Take RisksHave you ever had your eye on the last piece of chocolate cake, but noticed your friend was doing it too, or wanted to sit in the front seat, but came face to face with your little brother or my sister fighting? At one time or another, everyone has found themselves in some form of disagreement or misunderstanding that was resolved with a simple solution, a coin toss. But how do you decide which side of the coin to choose? With this piece of cake calling your name, it would be very helpful to know if the coin was biased to land on a particular side before making your decision. You shouldn't think too much about the choice, as it is commonly accepted that there is a 50/50 chance when it comes to tossing a coin. However, this old adage may actually be a decades-old misconception. A group of Stanford graduate students decided to solve this problem not with logic, but with science, and conducted more than 1,000 random drawings to see what they could find. What are the chances? So the following question arises: if you had to turn a piece over, by hand, 100 times, does that mean that it...