multiple choice\nwhich of these statements is not a characteristic of the law of large numbers?\na. losses…
multiple choice\nwhich of these statements is not a characteristic of the law of large numbers?\na. losses can be predicted in large groups with a higher degree of accuracy\nb. individual losses can be predicted based on past experience\nc. group losses can be predicted based on past experience\nd. rates can be calculated to compensate for losses\nsubmit
Answer
Brief Explanations:
The law of large numbers deals with predicting group - level outcomes based on past experience, not individual losses precisely. It allows for predicting losses in large groups and calculating rates to compensate for losses. But individual losses are subject to randomness and cannot be accurately predicted based on the law of large numbers.
Answer:
B. Individual losses can be predicted based on past experience