Topical Terminology > Law Of Large Numbers
Law Of Large Numbers
For Law Of Large Numbers we have terms and definitions in 2 topics. The topics are Finance and Insurance.
Law Of Large Numbers (Finance) 
The mean of a random sample approaches the mean (expected value) of the population as sample size increases.
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Law Of Large Numbers (Insurance)
The theory of probability on which the business of insurance is based. Simply put, this mathematical premise says that the larger the group of units insured, such as sport-utility vehicles, the more accurate the predictions of loss will be.
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