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Understanding the Law of Large Numbers Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which theorem states that the larger the sample size, the closer the sample mean will be to the mean of the population?

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1. A statistician calculates the probability of an event in an experiment. After a dozen trials of the experiment, the statistician finds that the theoretical probability and the experimental probability differ. What is the likely reason for this?

2. The law of large numbers shows a relationship between the theoretical probability and the _____.

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About This Quiz & Worksheet

This quiz tests your understanding of the Law of Larger Numbers and how it applies to the probability of certain occurrences. Topics you'll need to understand to pass this quiz include an understanding of statistics and probability.

Quiz & Worksheet Goals

Use these assessment tools to assess your knowledge of:

  • What happens when the sample size increases
  • Definition of the Law of Larger Numbers
  • How the theorem applies to statistical probability
  • Examples of how the theorem is applied in modern day settings, like insurance

Skills Practiced

  • Making connections - understand the concept of the Law of Larger Numbers and how it applies to statistical probability
  • Distinguishing differences - compare and contrast topics from the lesson, such as the Law of Averages and the Law of Large Numbers
  • Knowledge application - use your knowledge to answer questions about the likely probability of an occurrence based on the sample size

Additional Learning

To learn more about this principle, review the accompanying lesson Understanding the Law of Large Numbers. During this lesson, you will:

  • Examine various sample sizes
  • Use probability models to determine the likelihood of occurrences within those sample sizes
  • Understand how probability is used in day-to-day examples, such as insurance
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