Glossaria.net

Glossary Statistics / Term

Empirical Law of Averages

The Empirical Law of Averages lies at the base of the frequency theory of probability. This law, which is, in fact, an assumption about how the world works, rather than a mathematical or physical law, states that if one repeats a random experiment over and over, independently and under "identical" conditions, the fraction of trials that result in a given outcome converges to a limit as the number of trials grows without bound.

Permanent link Empirical Law of Averages - Creation date 2021-08-07


< Element of a Set Glossary / Statistics Empty Set >