Suppose that an economist is paid to predict whether the US unemployment rate will rise or fall each time before a new government report is released. If this economists makes predictions based on the toss of a fair coin, what is the probability that they will be right exactly 9 out of the next 10 times?
I thought it was (.5)^(9)=.001953125 but it was wrong.
I'm not sure what to do. Any help would be great. Thanks!