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It means just what it seems to -- someone tosses a coin up and you try to guess which side will be facing up when it lands. "Heads" is the side with the person's face on it and "tails" is other side.
This is a good bet to take. Your expected payout is 0.5 each round of the 2 tosses. The possible outcomes from 2 tosses: HT, HH, TT, TH. The probability that heads comes up is 3 in 4 (.75). The probability that heads does not come up is 1 in 4 (.25). Your expected payout is: (2 * .75) + (-4 * .25) = 1.5 - 1 = 0.5
Every time a coin is tossed there is a 50 / 50 chances of it coming up heads. There is no rule that says tossing it 100 or 6 times will change this.
10 coins would be tails up.
For each toss, the probability that it'll land heads up is 1/2 So 1/2 * 1/2 * 1/2 = 1/8, or .125 There is a 12.5% chance that it will land heads-up all 3 times.