suppose you tell someone that you will pay them 100 dollars if they get all tails in four tosses of a coin if they don't they owe you ten dollars what is the probability that you will owe them 100 dollars?
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suppose you tell someone that you will pay them 100 dollars if they get all tails in four tosses of a coin if they don't they owe you ten dollars what is the probability that you will owe them 100 dollars?
The probability of you owing $100 is the same as getting four tails in a row, which is (1/2)^4, or 0.0625.
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