(Answered) When asked to call heads or tails for a coin toss are

Economics

When asked to call heads or tails for a coin toss, are people equally likely to choose heads or tails? Conventional wisdom indicates that people tend to pick heads more often than tails.

What are the observational units in this study? What is the variable that is recorded? Describe the parameter of interest in words(Use π to represent this parameter.)

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