Which of the following statements is true about the "law of large numbers" (LLN)?
A)The LLN states that if an experiment with a random outcome is repeated a large number oftimes, the empirical probability that is observed is likely to be close to the theoreticalprobability.
B)The LLN states that if you simulate or conduct an experiment or simulation enough times theempirical probability observed will always match the theoretical probability that is expected.
C)The LLN is almost always true, but there are special occasions, even when outcomes arerandom, when the LLN can be broken.
D)The LLN states that the empirical probability that is observed will simulate the theoreticalprobability that is expected for any finite number of trials, so a simulation or experiment neednot have an excessive number of trials.

Question

Quizplus · Accepted Answer

The law of large numbers states that as the number of trials increases, the empirical probability will tend to get closer to the theoretical probability, but it does not guarantee an exact match or apply to a finite number of trials.

Which of the Following Statements Is True About the "Law