Chapter 5.1, Problem 6E

To determine

To Explain: the behaviour in the long run and short run on the basis of the given graph.

Explanation of Solution

Given:

For the short run, it is observed that the result can vary too much and can take on values too much difference than a proportion of $\frac{1}{2}$ .

For the long run, it is observed that the proportion till all time tends to be about 0.5, which means that the long-run relative frequency is about 0.5 and therefore the probability of heads would be about $\frac{1}{2}$.