I don’t know what formula you applied. Your figures seem inaccurate.
“Probability of 20-hand win streak in 7,000 trials: 0.000185852501104.”
1 in 5380 hands.
“Probability of 20-hand losing streak in 7,000 trials: 0.001529230036319.”
1 in 654. NO way, Jose!
I got different results for W=0.43 and L=0.48
Number of 20-hand win streaks in 7,000 trials: 0
Number of 20-hand losing streaks in 7,000 trials: 0
How bout p=.5?
Number of 20-hand win streaks in 7,000 trials: 0
Number of 20-hand losing streaks in 7,000 trials: 0
How about coin tossing and shorter streaks?
Number of 5-hand win streaks in 7,000 trials: 55
Number of 5-hand losing streaks in 7,000 trials: 55
Number of 5-hand win streaks in 1,000 trials: 8
Number of 5-hand losing streaks in 1,000 trials: 8
Number of 5-hand win streaks in 100 trials: 1
Number of 5-hand losing streaks in 100 trials: 1
What results you get for p=0.5 and 5-win/loss streaks?
Hopefully a neutral can arbiter our argument.
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