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Probability of exactly 50 heads in 100 flips

Asked at Jane Street, HRT

You flip a fair coin 100100 times.

Estimate the probability of getting exactly 5050 heads. Derive the approximation, no calculator.

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Write the exact binomial expression, then attack (2nn)\binom{2n}{n} with Stirling's formula n!2πn(n/e)nn! \approx \sqrt{2\pi n}\,(n/e)^n.

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