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Article: Probability and the Law of Large Numbers
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CopyrightCOPYRIGHT 2002 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Probability and the Law of Large Numbers
Theoretical and experimental probabilities are linked by the Law of Large Numbers. This law states that if an experiment is repeated numerous times, the relative frequency, or experimental probability, of an outcome will tend to be close to the theoretical probability of that outcome. Here the relative frequency is the quotient of the number of times an outcome occurs divided by the number of times the experiment was performed.
The Law of Large Numbers is more than just a general principle. The Swiss mathematician Jakob Bernoulli (1659
–
1705) was the first to recognize the connection between long-run proportion and probability. In 1705, ...
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