Test_1_2003 - two flips and it shows tails Now what is the...

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Department of Economics Professor Dale J. Poirier University of California, Irvine October 28, 2003 MIDTERM TEST ECON 220A Statistics and Econometrics I (open book) Directions : You must answer each of the following questions. Points (out of 100) are allocated as noted on the left. Allocate your time according to these points. To receive any partial credit, you must show your work. 1. A gambler has in his pocket one fair coin and one two-headed coin. (10) (a) He selects one of the coins at random, and when he flips it, it shows heads. What is the probability that it is the fair coin? (10) (b) Suppose that he flips the same coin a second time (independently of the first flip and again it shows heads. Now what is the probability that it is the fair coin? (10) (c) Suppose that he flips the same coin a third time (Independently of the first
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