Question

Keep on tossing The figure shows the results of two different sets of$5000$coin tosses.

Explain what this graph tells you about chance behavior in the short run and the long run.

Short answer

In the short run, values will be different than the proportion of $.5$while in the long run, the probability of heads will be about$0.5$.

Step-by-step solution

Given information

We have been given the results of two different sets of $5000$coin tosses.

We need to find out the chance behavior in the short run and the long run from the graph.

Explanation

In the short run due to different peaks present below and above the proportion of $0.5$there is a variation in the result very much and due to this, it takes on values very different than a proportion of $0.5$.

In the long run, the proportion always tends to be about $0.5$and this implies that the long-run frequency is about $0.5$so the probability of heads will be about$0.5$.