Question 1164188: Many everyday decisions, like who will drive to lunch or who will pay for the coffee, are made by the toss of a (presumably fair) coin and using the criterion "heads, you will; tails, I will." This criterion is not quite fair, however, if the coin is biased (perhaps due to slightly irregular construction or wear). John von Neumann suggested a way to make perfectly fair decisions, even with a possibly biased coin. If a coin, biased so that P(h)=0.4500 and P(t)=0.5500, is tossed twice, find the probability P(th).
Answer by ikleyn(52884) (Show Source):
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