My question has two parts:
- Am I approaching the problem correctly, resulting in a reasonable formula?
- How do I do the final calculation for numbers as large and as small as these. I put my formula into google and it just gives an answer of "1", which surely isn't the right answer.
My approach:
Lets start with an assumption, that the average person experiences 225 coin flips in a lifetime (3/year for 75 years)
The odds of an individual having the extraordinary results of "only heads" or "only tails" for all 225 of their flips would be 0.5^224 (the first flip can be either so we only say 224).
Then we can say that the odds that someone goes through life without these extraordinary results would be 1-(0.5^224).
The odds then of nobody experiencing these extraordinary results will be to take the previous calculation multiplied by itself for each member of the human population, so we raise it all to the power of 7.8 billion.
The final formula for this calculation is then (1-(0.5^224))^7800000000.
Edit: Given the insight from Stacker's answer its clear that I missed a step, I only "calculated the probability that everyone will not have such an extraordinary event in their lifetime. To find the probability that at least one person will, subtract that number from 1 (the complement rule)."
The final formula for this calculation is actually 1-((1-(0.5^224))^7800000000)
P.S. If your interested in some context, I'm trying to do this calculation to explore the idea of perspective. To better understand how likely it is that there are people that will experience the world in a way that is entirely different from reality.