This Phenomenon Refers to a Probability Experiment Being Carried Out

question 10

Multiple Choice

This phenomenon refers to a probability experiment being carried out more and more times so that the recorded results get close to theoretical probability.

• A)The law of averages.
• B)The law of likelihood.
• C)The law of large numbers.
• D)A law of small numbers.

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Definitions:

Necessaries

Goods or services that are essential for someone’s maintenance and welfare according to their status in life and their requirements at the time of contract.

Credit

The granting of money or something of value with the expectation of repayment, or the reputation for solvency and reliability that allows an entity to borrow.

Revenue Opportunities

Potential scenarios or strategies that can lead to increased income or profits for a business or organization.

Public Utility Corporation

A company that provides essential public services, such as water, electricity, and natural gas, regulated by government entities.