3. What is the law of large numbers? If you were using the relative frequency of an event to estimate the probability of the event, would it be better to use 100 trials or 500 trials? Explain.

Answered: 3. What is the law of large numbers? If…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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6.12, please
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2. Wallace figures his chances of getting a new car for graduation at 70% if he graduates as class valedictorian. He only has about a 25% chance of getting a new car if he graduates 2nd or lower. He estimates his chances of being valedictorian at 50/50. What is the likelihood that Wallace will get a new car?
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3. What is the law of large numbers? If you were using the relative frequency of an event to estimate the probability of the event, would it be better to use 100 trials of 500 trials? Explain.