What Is the Probability of Getting Heads on the Fifth $\neq$

question 21

Multiple Choice

What is the probability of getting heads on the fifth toss of a fair coin when the four previous tosses were all tails?

• A) p > .50
• B) p = .50
• C) p < .50
• D) p \(\neq\) .50

---

Definitions:

Recession

A phase of short-term economic downturn marked by decreased business and manufacturing operations, typically recognized by a decline in Gross Domestic Product for two consecutive quarters.

Efficiency-Wage Theory

The concept that employers may pay a higher wage than the market equilibrium to increase worker productivity, loyalty, and satisfaction, thereby reducing turnover and shirking.

Labor Unions

Organizations that represent workers in negotiations with employers over wages, working conditions, and benefits to protect their rights and interests.

Efficiency Wage

A theory stating employers pay a wage that is higher than the market equilibrium to increase worker productivity and efficiency.