In statistics, various examples (e.g., coin flips) often stand in for other activities which might prove expensive or infeasible to make repeated tries of.
For "coin flips", read: human lives, financial investments, scientific observations, historical observations (how many distinct historical analogues are available to you), dating (see, e.g., "the secretary problem" or similar optimal stopping / search bounding problems).
With sufficiently low-numbered trial phenomena, statistics gets weird. A classic example would be the anthropic principle: how is it that the Universe is so perfectly suited for human beings, a life-form which can contemplate why the Universe it so perfectly suited for it? Well, if the Universe were not so suited ... we wouldn't be here to ponder that question. The US judge Richard Posner made a similar observation in his book "Catastrophe: Risk and Response" tackles the common objection to doomsday predictions that all have so far proved false. But then, of all the worlds in which a mass extinction event has wiped out all life prior to the emergence of a technologically-advanced species, there would be no (indegenous) witnesses to the fact. We are only here to ponder that question because utter annihilation did not occur. As Posner writes:
By definition, all but the last doomsday prediction is false. Yet it does not follow, as many seem to think, that all doomsday predictions must be false; what follow is only that all such predictions but one are false.
-Richard A. Posner, Catastrophe: Risk and Response, p. 13.
<https://archive.org/details/catastropheriskr00posn/page/13/m...>