The Law of Large Numbers
What is it?
The rule describes the result of executing the same experiment many times. According to it, the average results obtained should be close to the expected value and tend to become more relative to the expected value as more trials are performed.
Real-life example
If a person flips a fair coin many times (the number of trials approaches infinity), the probability of getting a head or tail approaches to one-in-two chance.
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What is it?
The rule describes the result of executing the same experiment many times. According to it, the average results obtained should be close to the expected value and tend to become more relative to the expected value as more trials are performed.
Real-life example
If a person flips a fair coin many times (the number of trials approaches infinity), the probability of getting a head or tail approaches to one-in-two chance.
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