Which of the following statements is true about the Law of Large Numbers (LLN)?
A)The LLN 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.
B)The LLN 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 LLN 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.
D)The LLN is almost always true, but there are special occasions, even when outcomes are random, when the LLN can be broken.

Question

Quizplus · Accepted Answer

The Law of Large Numbers states that as the number of trials in an experiment increases, the empirical probability will tend to get closer to the theoretical probability.

Which of the Following Statements Is True About the Law