In: Statistics and Probability
A person who has a habit of driving fast has never had a traffic citation. What does it mean to say that “the law of averages will catch up with him”? Is it true? Explain
Does It Make Sense? For Exercises, determine whether the statement makes sense (or is clearly true) or does not make sense (or is clearly false). Explain clearly; not all of these have definitive answers, so your explanation is more important than your chosen answer.
Law of Averages:
The law of Averages is the commonly held belief that a particular outcome or event will over certain periods of time occur at a frequency that is similar to its probability. Depending on context or application it can be considered a valid common sense observation or a misunderstanding of probability.
So, here this is same cases where a person has a bad habit of diving fast and also here had a traffic citation, he will never caught up, but according to the law of averages that he will surely event will over after contain period of time then he will surely catched up by police this is true and common sense decision according to the “law of averages”.
The law of Averages is the commonly held belief that a particular outcome or event will over certain periods of time occur at a frequency that is similar to its probability.