Suppose a random experiment is repeated many times, for example, a fair coin is flipped 1000 times. The outcome from a single flip of the coin is either Heads or Tails. If we repeat the experiment, the number of times each outcome is observed, i. e., the number of Heads and the number of Tails, is called the frequency of that outcome. The relative frequency of an outcome is the proportion of times that outcome is observed. For example, the relative frequency of Heads is the frequency of heads divided by the total number of flips (this was the fraction that we computed in class in the quarter flipping experiment last Thursday). By the Law of Large Numbers, as the number of repetitions of an experiment increases, the relative frequency of each outcome approaches the probability of that outcome. Required:
Use computer simulation to find the relative frequency of an outcome and to show how, as the number of repetitions of the experiment increases, the relative frequency stabilizes to a number between 0 and 1.