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How many times do we have to flip a balanced coin to be able to assert the probability of at most .01 that the difference between the proportion of tails and .50 will be at least .04?
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I'm a bit confused on how I go about solving this one using chebyshevs theorem, probably because I'm unsure of how to break each part of the word problem out. So far I know I'm trying to find the number of flips of a coin to be used with the given probabilities.I also know that the difference between the proportion of landing a tails is at least .04 but not greater than .01, and .50 I'm assuming is the number of chances it could be heads (or did I get this wrong?)
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