I toss a coin 1000 times and observe the outcome “heads” 481 times. Which of the following can be concluded from this result?
A) This is suspicious because we should observe exactly 500 heads if the coin is tossed 1000 times.
B) The probability of heads is approximately 481.
C) Our best estimate of the probability of heads is 0.481, but a longer sequence of flips should yield a better estimate of this probability.
D) If we flip the coin several more times, we will get more heads than tails in order to balance out the fact that the first thousand flips had too few heads.
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