What is the law of large numbers?medium

Type
conceptual
Topic
law-of-large-numbers
Frequency
common
Tags
law-of-large-numbers, sampling
Answer

The law of large numbers says that sample averages tend to get closer to the expected value as sample size grows.

Explanation

It explains why more data usually gives more stable estimates. It does not guarantee every small sample is accurate, and it does not remove bias from a bad sampling process.

Follow-upHow is this different from the central limit theorem?