Many everyday decisions like who will drive to lunch or who will pay for the...

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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 criterion heads you will tails I will This criterion is not quite fair however if the coin is biased perhaps due to slightly irregular construction or wear John von Neumann suggested a way to make perfectly fair decisions even with a possibly biased coin If a coin biased so that P h 0 5400 and P t 0 4600 is tossed twice find the probability P th The probability P th Type an integer or decimal rounded to four decimal places as needed

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To find the probability Pth when a biased coin is tossed twice we can use the following approach based on the probabilities provided 1 Define the probabilities Ph 05400 probability of See Answer

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