Question

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

It is observed that the result can vary too much and can take on values too much difference than a proportion of$\frac{1}{2}.$

Step-by-step solution

Step 1. Given information

The behaviour in the long run and short run on the basis of the given graph.

Step 2. Explanation

For the short run, it is observed that the result can vary too much and can take on values too much difference than a proportion of $\frac{1}{2}.$

For the long run, it is observed that the proportion till all time tends to be about $0.5$, which means that the long-run relative frequency is about $0.5$and therefore the probability of heads would be about $\frac{1}{2}$.