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Questions
Single choice
Which of the following statements is true about the Law of Large Numbers?
Options
A.The Law of Large Numbers states that if an experiment with a random outcome is repeated a large number of times, the empirical probability that is observed is likely to be close to the theoretical probability.
B.The Law of Large Numbers states that the empirical probability that is observed will simulate the theoretical probability that is expected for any finite number of trials, so a simulation or experiment need not have an excessive number of trials.
C.The Law of Large Numbers states that if you simulate or conduct an experiment or simulation enough times the empirical probability observed will always match the theoretical probability that is expected.
D.The Law of Large Numbers is almost always true, but there are special occasions, even when outcomes are random, when the Law of Large Numbers can be broken.
View Explanation
Standard Answer
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Approach Analysis
The question asks us to evaluate statements about the Law of Large Numbers and identify which is true.
Option 1: 'The Law of Large Numbers states that if an experiment with a random outcome is repeated a large number of times, the empirical probability that is observed is likely to be close to the theoretical probability.' This aligns with the standard formulation: as the number of independent trials grows, the observed frequency (empirical probability) tends to co......Login to view full explanationLog in for full answers
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Similar Questions
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