You Flip a Coin Ten Times in a Row

question 177

Multiple Choice

You flip a coin ten times in a row. Every single time it comes up heads. On the eleventh flip, is it more likely to be heads, tails, or are heads and tails equally likely? If you are a hot hand player, you will answer ____.

• A) heads
• B) tails
• C) heads and tails are equally likely
• D) that you need time to think it over

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Definitions:

Loan Payments

Regular payments made to repay borrowed money, including both principal and interest components.

Loan Papers

Documents associated with a loan, including the agreement, terms and conditions, and any collateral-related paperwork.

Certificates Of Deposit

A type of federally insured savings account that has a fixed interest rate and fixed date of withdrawal, known as the maturity date.

Compounded Quarterly

The process of calculating interest on both the initial principal and the accrued interest over four quarters in a year.