I have two very biased coins:
- The first coin (C1) lands on heads 95% of the time.
- The second coin (C2) lands on heads only 1% of the time.
One of the coins has been selected and I want to determine which coin that is. I can toss the coin as many times as possible and record a series of heads and tails results.
Let's say I want to know with 99.99% confidence, and as soon as possible, which coin is being flipped. How can I do so?
I would like to flip the coin, and after each result either continue or make a decision on which coin I have. I don't need to know how many times to flip before I start.
(Sorry if this is a very basic question that has been asked before. I lack the vocab to know how to search for this problem).