The law of large numbers is relevant to the estimation of
A)objective probabilities
B)subjective probabilities
C)both of these options
D)neither of these options

Question

Quizplus · Accepted Answer

The law of large numbers is relevant to the estimation of objective probabilities. It states that as the sample size increases, the observed frequency of an event will converge to the true probability of the event. This makes it relevant to the estimation of objective probabilities, which are based on observed frequencies and not influenced by personal beliefs or opinions.

The Law of Large Numbers Is Relevant to the Estimation