Sunday, November 14, 2010

Principle of indifference

Principle of indifference

To coins :

A symmetric coin has two sides, "Heads" and "Tails". Each of the possible ("Heads" or "Tails") outcomes has a probability of 1/2.

But if we apply the Principle of Indifference, and if we have more than 2 possible outcomes, say, 3 possible outcomes - the coin could land on its edge, then the probability of a possible outcome (Heads, Tails or Edge) is 1/3.

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