Final answer:
Using Bayes' theorem, the chance that you are flipping the unfair coin after observing 5 tails in a row is approximately 96.9%.
Step-by-step explanation:
To solve this problem, we'll use Bayes' theorem, which is a way to find a conditional probability when we have information about reverse conditional probabilities.
Let's denote:
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- F = picking the fair coin
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- U = picking the unfair coin
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- A = observing 5 tails in a row
The probability that we pick the fair coin or the unfair coin is equal since it is stated that we pick one at random. Therefore, P(F) = 0.5 and P(U) = 0.5.
The probability of flipping 5 tails in a row with a fair coin (F) is (1/2)^5 = 1/32 = 0.03125.
Thus, P(A|F) = 0.03125. With an unfair coin (U), since both sides are tails, the probability of flipping 5 tails in a row is 1. So P(A|U) = 1.
Now, let's apply Bayes' theorem to find P(U|A), the probability that we have the unfair coin given that we observed 5 tails in a row:
P(U|A) = [P(A|U) * P(U)] / [P(A|U) * P(U) + P(A|F) * P(F)]
Plugging in the values we have:
P(U|A) = (1 * 0.5) / (1 * 0.5 + 0.03125 * 0.5) = 0.5 / (0.5 + 0.015625) = 0.5 / 0.515625 ≈ 0.969.
The chance that you are flipping the unfair coin is thus approximately 96.9%.