Law Of Large Numbers Edit Meaning

1.

The rule that confirms that as the number of trials increases, the actual probability approaches the expected probability. If you flip a coin 1000 times, you might get 470 heads. Or 550 -- expected probabilities of .47 and .55, respectively. But, damn it, the limiting value of that probability as the number of flips increases without bound is going to be .5.

Brother, if you continue playing that slot machine, the law of large numbers is going to get your ass.

See Zac

2.

The law of large numbers states that as a lottery jackpot increases, the probobility of a hick in Nowhere, Oklahoma will salivate and stand in line three and a half hours to buy sixty three tickets.

3.

The more times you gamble, the lower your probability of winning.

This law is what helps keep casinos in business, and this law works best with "chance" games like Bingo, Keno, and the slot machines, which are ALWAYS the first games that the tourists, women, and old people play.

Haven't heard much about this law working on the Blackjackand Poker tables though.

Too bad the old grannies who plunk their retirement benefits into the slot and Keno machines don't know about or haven't paid close attention to the Law of Large Numbers.

4.

the theroy that when there is a larger group of something, esp. people, the likelyhood of their being who or wht your looking for. For example, there is more liklyhood that you will find a sober hippie wearing dentures in a group of 1,000,000,000 random people than in a group of 52 random people.

person 1: why are we looking in NYC for good actors rather than Otis Massachusetts?

Person 2: law of large numbers, bro