Law of Large Numbers (LLN)

As the sample size increases, the sample mean converges in probability to the population mean. I.e. As the amount of collect more data increases, the average of the data will converge to the true expected value.

Types:

  • Weak LLN: The sample mean converges in probability to the population mean.
  • Strong LLN: The sample mean almost surely converges to the population mean.