Free throw interview question

The result is linked to the Law of large numbers, which basically states that the more trials you do of something, the closer you will get to the expected probability. So after 10,000 trials, I would expect to be proportionally closer to 6000 than being close to 60 after 100 trials.

The point here is that in all these cases the proportion is $\frac23$ - i.e. greater than the expected probability of 60%. Since for larger numbers we will be closer to the expected probability of 60%, that means that we are less likely to be above $\frac23$.

If you were to change the parameters slightly - and ask what is the probability of success in more than 55% of cases, for example, then you'd see the complete opposite happening.

$P(\#1) = \binom{3}{2}\cdot{(\frac{60}{100})}^2\cdot{(\frac{40}{100})}^1+\binom{3}{3}\cdot{(\frac{60}{100})}^3\cdot{(\frac{40}{100})}^0 = 0.648$

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$P(\#2) = \binom{6}{4}\cdot{(\frac{60}{100})}^4\cdot{(\frac{40}{100})}^2+\binom{6}{5}\cdot{(\frac{60}{100})}^5\cdot{(\frac{40}{100})}^1+\binom{6}{6}\cdot{(\frac{60}{100})}^6\cdot{(\frac{40}{100})}^0 = 0.54432$

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$P(\#3) = \sum\limits_{n=20}^{30}\binom{30}{n}\cdot{(\frac{60}{100})}^n\cdot{(\frac{40}{100})}^{30-n} = $ feel free to do the math yourself...

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In general, you need to prove that the following sequence is monotonically decreasing:

$A_k = \sum\limits_{n=2k}^{3k}\binom{3k}{n}\cdot{(\frac{60}{100})}^n\cdot{(\frac{40}{100})}^{3k-n}$

I think it should be pretty easy to do so by induction...

Because your expected number of successes is less than the number required in order to win, you need to get a bit lucky in order to succeed. That's much harder for large samples: if you had to get 2/3 of a thousand throws, you would be in very bad shape; whereas even getting 1/1 out of a single throw is a 60% chance.

So the intuitive explanation is: you lose in the long term, so you need variance to win. The smaller the sample size, the bigger the impact variance has.