Testing the Fairness of a Coin: Determining Consistency through Sampling

In this video, the speaker explores how to determine if a coin is fair or biased by taking repeated samples. Using the example of flipping a coin to decide who washes dishes, the speaker explains the concepts of population, sample, hypothesis, and statistic. By conducting multiple trials and analyzing the results, the speaker concludes whether the coin is fair or if there is evidence to reject the hypothesis.