| "If you flipped 10 heads in a row the probability of the coin you have being the double heads coin increases dramatically..." I disagree. The coin is the coin. It didn't magically transport itself or change state after flipping it 10, 100, or a billion times. Lets change the puzzle to the simplest state: you pull a coin from the 1000-coin jar and flip it just once. What's the probability of heads? This is why roulette and baccarat tables in Vegas have those signs showing previous outcomes. It's meant to mess with your head. Previous history has no effect on future outcomes. A fair coin could come up heads a billion times in a row as well. The next flip will still be 0.5. |
Here is perhaps a more visceral example: On any given day, your car has a 10% chance of having blown a wheel the previous night. If it has blown a wheel, every bump will feel jarring. If it hasn't blown a wheel, any given bump will feel jarring with 10% probability. You drive over a hundred bumps, and all feel jarring. Do you think the next bump will also feel jarring?
Yes, right? Because the fact that the last hundred bumps have been jarring means you probably blew a wheel last night. Even though 'previous history has no effect on future outcomes', previous history does give you information about the state of the world.
Edit: Or a better example, for this community. You're on a slightly flakey wifi connection, which sometimes drops a packet at random. Any given packet is dropped with probability 1/100. Also, any given time you connect to the router, the modem is down with probability 1/10, and all of your packets will get dropped. You connect, and the first hundred packets you send are dropped. What is the probability the next packet will get dropped? Very high, because now you know that the modem is probably down. The history of the connection gives you information about the state of the connection. Similarly, the history of coin toss results gives you information about the state of the coin.
(Why is this different from roulette? Because there the previous history doesn't give you information.)