What is the Law of Large Numbers?

What is the Law of Large Numbers?



-A theorem that describes the result of performing the same experiment a large number of times
-Forms the basis of frequency-style thinking
-It says that the sample mean, the sample variance and the sample standard deviation converge to what they are trying to estimate
-Example: roll a dice, expected value is 3.5. For a large number of experiments, the average converges to 3.5

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