The Law of Large Numbers explains how the sample mean approaches the expected value as trials increase. This principle is vital in engineering and statistics, helping us make reliable predictions and understand the behavior of averages in large datasets.
Definition of the Law of Large Numbers
Weak Law of Large Numbers
Strong Law of Large Numbers
Convergence in probability
Almost sure convergence
Sample mean and its relationship to expected value
Conditions for the Law of Large Numbers to hold
Differences between weak and strong laws
Applications in statistics and probability
Relationship to the Central Limit Theorem