law of large numbers


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law of large numbers

[′lȯ əv ¦lärj ′nəm·bərz]
(statistics)
The law that if, in a collection of independent identical experiments, N (B) represents the number of occurrences of an event B in n trials, and p is the probability that B occurs at any given trial, then for large enough n it is unlikely that N (B)/ n differs from p by very much. Also known as Bernoulli theorem.
References in periodicals archive ?
V, On necessary and sufficient conditions for the strong law of large numbers, Theory Prob.
People's intuitions about random sampling appear to satisfy the law of small numbers, which asserts that the law of large numbers applies to small numbers as well" (p.
Also, that this is not a completely straightforward application of the law of large numbers because a sequence of sets of observation points {[t.
Almost all of the things that classical science deals with involve zillions of items, and the Law of Large Numbers guarantees that the form to the probability will be accurately expressed.
9%) correctly answered that three tails in five flips is more likely than 3000 tails in 5000 flips for question three (Q3) concerning the law of large numbers.
After the student had time to investigate the problem (usually 10-15 minutes) the student was asked to run 2,000 trials for each strategy, using the repeated trials component of the simulator (which, based on the law of large numbers, should provide adequate evidence).
Because potential for measurement errors, omitted variables biases, and adjustment errors usually increase as properties become less similar, the choice of the number of comparable sales to use is a tradeoff between increasing dissimilarity leading to higher adjustment errors versus larger sample size which allows the law of large numbers to reduce random variation.
Crants allows that the law of large numbers will eventually catch up, but says CCA can continue to grow.
Probability risk, "the organizational effort to manage the Law of Large Numbers," reflects the simple fact that unpredictable events in health care happen more predictably as the population base under consideration grows larger.
People who are not students and therefore not required to spend a day's wage to purchase this book already understand the concept of risk and the law of large numbers and will continue working their way through life.
The law of large numbers states that it takes many steps to come up with one good idea.