Task:

Write a brief essay ( suggested length of 2 pages ) in which you:

1. Define the Law of Large Numbers, citing a credible source.
2. Explain the Law of Large Numbers in your own words using a coin toss as an example.
3. Apply the Law of Large Numbers

1. Using a coin toss and fictitious data, explain how the following scenario is possible: As the number of trials increases, the differences between the number of actual and expected successes tends to grow, but the difference between the percentage of actual and expected successes tends to decrease.
2. Explain your answer to the following question: Is it true that if I flip a coin 1,000 times I will get heads 500 times?
3. Explain your answer to the following question: Is it true that if I get tails 3 times in a row that my chances of getting heads on my next toss is greater than 50%?

Price: $8.93

Solution: The downloadable solution consists of 3 pages, 593 words.
Deliverable: Word Document