5 Law of Large Numbers

One of the key results of probability and statistics is that POST-EXPERIMENTAL averages of observations converge to PRE-EXPERIMENTAL averages of potential outcomes represented by the Expected Value.This is called the Law of Large Numbers.

S1 LLN Explanation and Intuition

S2 LLN via Chebyshev's Inequality

S3: Illustration of LLN for Gamma RVs in EXCEL

S4: Swamping Versus Balancing

S5: The Regression Effect