Coin tosses
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چکیده
We’ll use a statistical model of the problem to motivate a prediction strategy, as well as to evaluate the quality of various strategies. In this model, the outcome of the coin toss is random; it is “heads” with some probability, say, p; and it is “tails” with the remaining probability 1− p. This number p is a parameter of the model; the possible values it can taken on, namely the interval [0, 1], is the parameter space.
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