law of large numbers


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law of large numbers

n.
The rule or theorem that a large number of items chosen at random from a population will, on the average, have the characteristics of the population. Also called Bernoulli's law.
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However, the researchers found that people with high levels of interest in a topic rely more on the Law of Large Numbers, assessing both consensus and the size of a poll.
ij] = O (1/n), it follows by applications of the law of large numbers that
It is this Law of Large Numbers that generates the classical world of appearance, as zillions are invariably involved.
Sixty-seven of 108 participants (62%) treated the birth order and law of large numbers problems similarly and claimed that the choices were equally likely.
This comment suggests that students were able to apply their intuitive notions of the law of large numbers to make conclusions.
As the variance of such distributions increases, there is more need for the law of large numbers, that is, for using more comparable sales to average away the random variation found in individual prices.
But the moment you become a "mature" company, the law of large numbers catches up with you.
This will motivate employees to employ the law of large numbers and the unsolution method.
If in addition it is supposed that those sets of sequences which are invariant under a shift, for example the sets defined in terms of limit properties, have probability of 1 or 0 only, then the ergodic theorem implies the strong law of large numbers, i.
An appeal to the law of large numbers to make banks stable, as is done by Diamond [4], Waldo [18], and Williamson [21], does not apply to loans in less developed countries because their economic activity is closely related to only a few primary sectors or commodities, and thus less diversified.
As a result, customers have an incentive to pool their bids with dealers so that a combination of bids can, by a law of large numbers, be appropriately cast.
Risk transfer insurance provides an efficient mechanism of risk transfer by pooling the risks of a large number of individuals (such as the family home being destroyed) based on the law of large numbers.