[QUOTE=Indistinguishable]
I’m saying, if the null hypothesis is that the coin is fair, then, if things are set up properly, all N-length observations go the same way: they all are events of probability 2^(-N), and thus should either all reject or all fail to reject the null hypothesis. You can’t say “I thought the coin was fair, but then I tossed 50 heads in a row, which is exceedingly unlikely, so I guess it probably wasn’t fair” unless you’re also willing to say “I thought the coin was fair, but then I tossed the sequence {H, T, T, T, H, H, T, H, T, …} of 50 flips, which is exceedingly unlikely, so I guess it probably wasn’t fair”.
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You can’t talk about the null hypothesis in isolation - what is the hypothesis here? The reason many people have a problem with a sequence of heads, say, is that they have an implicit hypothesis that a “random” sequence will have a mixture of heads and tails. And the reason you can’t say “I thought the coin was fair, but I tossed 50 heads in a row” is that this is creating a hypothesis based on the data, not checking a hypothesis with data. For example, you can’t give 1,000 people an ESP test, then claim ESP has been proven because one of them has gotten results significantly better than chance, which shows that this person has ESP.
About the only situation where I can see this scenario making sense is if you are informed that a certain coin is rigged, and you test the hypothesis that the coin is actually fair. I’ll reiterate that you can’t test for the generic hypothesis that it is rigged, because any result can be explainable by a certain rigging. As Shagnasty mentions, there are physical constraints also - practically speaking you can’t have a coin that produces a specific sequence, so certain tests for randomness might be good enough to invalidate a rigging hypothesis.
Big problem - you are never proving, or even trying to prove, that the null hypothesis is true, but only that the null hypothesis can explain the data with a certain probability. That a test for a coin being biased for all heads fails does not mean the coin is fair, just that there is a reasonably high chance that a fair coin can explain the results of the test. You don’t prove the null hypothesis only “disprove” (term used very loosely) the hypothesis.
Say you think the coin is biased all heads, and you get all tails. That will disprove the hypothesis, but neither proves not disproves the hypothesis that the coin is fair. And you can’t use this data to prove the hypothesis that the coin is biased all tails. You need to do an additional experiment with the hypothesis that the coin is biased all tails. If you get all tails again, then you can compute the p value. Even if you don’t get all tails you don’t prove the null hypothesis - as you say, the coin might be biased 75% tails.