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a) How could you simulate a biased coin landing heads with probability p = 1/3 if you only had available a fair coin?
b) How could you simulate fair coin tossing if you only had available a coin with unknown bias p strictly between 0 and 1?
Statistics and Probability, Statistics
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"A Financial Planning Licensee striving for excellence in their fiduciary duty has decided to set a maximum limit of gearing for all client financial plans they construct." Comment on the merit of taking such an approach ...
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