A single coin is tossed 400 times. Heads were observed 240 times. What is the long-run relative frequency of tails?
The long-run relative frequency of tails can be calculated by subtracting the relative frequency of heads from 1.
Relative frequency of heads = 240/400 = 0.6
Long-run relative frequency of tails = 1 - 0.6 = 0.4
Therefore, the long-run relative frequency of tails is 0.4 or 40%.