A coin is tossed 100 times. Gamblers can bet on the total number of heads that will be thrown. They can do so at any time before or during the game. Imagine that you're betting before the game starts. Coin Toss... Heads. Tails. Pick one. Poker tournaments are often determined by a simple coin flip. Of course, that's more of an expression in poker for an almost even 50/50 situation. At the Super Bowl, you can get down actual action on which side of the coin will settle onto the turf. Gatorade Color... In a time-honored tradition, the players soak the winning head coach with the water cooler.
In essence, a speciﬁc coin produced by this machine will have a ﬁxed probability P = p of giving heads, but you do not know initially what that probability is. A coin produced by this machine is selected and tossed repeatedly, with successive tosses assumed independent.
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