Noun
a law affirming that in the long run probabilities will determine performance
Source: WordNetAn onlooker might apply the law of averages to conclude that on its next spin it must (or at least is much more likely to) land on black. Source: Internet
Booth wrote it was more likely that the "hits" were the result of "coincidence, law of averages, subconscious expectancy, logical inference or a plain lucky guess." Source: Internet
Expectation values Another application of the law of averages is a belief that a sample's behaviour must line up with the expected value based on population statistics. Source: Internet
The law of averages is a layman's term for a belief that the statistical distribution of outcomes among members of a small sample must reflect the distribution of outcomes across the population as a whole. Source: Internet
While there is a real theorem that a random variable will reflect its underlying probability over a very large sample, the law of averages typically assumes that unnatural short-term "balance" must occur. Source: Internet