You Have Flipped a Coin Nine Times

question 68

Essay

You have flipped a coin nine times.Each time you flipped the coin,the outcome was Heads.Your friend Jimmy thinks that the tenth outcome is more likely to be Tails.Is he correct? Explain your answer.

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Definitions:

Centralized

The concentration of decision-making authority at the top levels of the organizational hierarchy.

Decentralized

A type of organizational structure where decision-making authority is distributed throughout various levels rather than being concentrated at the top.

Flatter Organizational Structure

A type of organizational design with fewer levels of middle management to promote faster decision-making, increased flexibility, and more employee autonomy.

Formal Hierarchy

An organizational structure where individuals are ranked according to levels of authority and responsibility, often visually represented as a pyramid.