1. You make a long distance telephone call. The rate is $.10 for each minute. The total cost
1 answer:
You might be interested in
Answer:
This is the Law of <u>large</u> Numbers.
Step-by-step explanation:
The Law of Large numbers states that as the sample size is increased the sample mean value gets closer to the population mean.
That is, as <em>n</em> → ∞ the value of → μ.
For instance, the theoretical probability of getting a Heads in a toss of a coin is, 0.50.
To check this perform an experiment whether the coin is tossed 20 times.
The probability of heads will be somewhere near 0.50.
Now toss the coins 50 times.
The probability of heads will be now closer to 0.50.
Now toss the coins 100 times.
The probability of heads will be approximately equal to 0.50.
Thus, as the number of tosses was increased the probability of getting a head is closer tot he theoretical probability.
Thus, the complete statement is:
This is the Law of <u>large</u> Numbers.