I Toss a Penny and Observe Whether It Lands Heads

question 42

Multiple Choice

I toss a penny and observe whether it lands heads up or tails up. Suppose the penny is fair; that is, the probability of heads is 1/2 and the probability of tails is 1/2. This means that:

• A)every occurrence of a head must be balanced by a tail in one of the next two or three tosses.
• B)if I flip the coin many, many times, the proportion of heads will be approximately 1/2, and this proportion will tend to get closer and closer to 1/2 as the number of tosses increases.
• C)regardless of the number of flips, half will be heads and half will be tails.
• D)All of the answer options are correct.

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Definitions:

Internal Competence

The skills, knowledge, and capabilities that exist within an organization, critical for achieving competitive advantage and strategic goals.

Corporate Strategy

The comprehensive plan developed by a company to achieve long-term business goals and maintain competitive advantage.

Organization-Wide Strategies

Comprehensive plans aimed at achieving the overarching objectives of the entire organization rather than just specific components or departments.

Progressive Income Tax

A tax system where the tax rate increases as the taxable amount of income increases, placing a larger financial burden on higher-income earners.