Which of the Following Statements Is True About the "Law

question 58

Multiple Choice

Which of the following statements is true about the "law of large numbers" (LLN) ?

• A)The LLN states that if an experiment with a random outcome is repeated a large number oftimes, the empirical probability that is observed is likely to be close to the theoreticalprobability.
• B)The LLN states that if you simulate or conduct an experiment or simulation enough times theempirical probability observed will always match the theoretical probability that is expected.
• C)The LLN is almost always true, but there are special occasions, even when outcomes arerandom, when the LLN can be broken.
• D)The LLN states that the empirical probability that is observed will simulate the theoreticalprobability that is expected for any finite number of trials, so a simulation or experiment neednot have an excessive number of trials.

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Definitions:

Programmed Decision Making

Decision-making techniques that are routine or automated, used for dealing with common, predictable problems.

Ill-structured Problem

A problem lacking a clear goal, solution path, or expected solution, making it difficult to solve using conventional methods.

Organizational Hierarchy

A system in which people or groups are ranked one above the other according to status or authority within an organization.

Programmed Decision Making

The process of making decisions that are routine or repetitive through the use of established policies, procedures, or rules.