1. law of large numbers - Noun
2. Law of large numbers - Proper noun
(statistics) law stating that a large number of items taken at random from a population will (on the average) have the population statistics
Source: WordNetThis faulty intuition as well as many modern applications of probability theory are under the strong influence of traditional misconceptions concerning the meaning of the law of large numbers and of a popular mystique concerning a so-called law of averages. William Feller
It is a common fallacy to believe that the law of large numbers acts as a force endowed with memory seeking to return to the original state, and many wrong conclusions have been drawn from this assumption. William Feller
The results concerning fluctuations in coin tossing show the widely held beliefs about the law of large numbers are fallacious. They were so amazing and so at variance with common intuition that even sophisticated colleagues doubted that coins actually misbehave as theory predicts. William Feller
The law of small numbers is not really a law. It is a sarcastic name describing the misguided attempt to apply the law of large numbers when the numbers aren't large. Leonard Mlodinow
Many newly public companies are able to post a year or two of strong sales growth off a small base, but their growth almost always slows over time, thanks to what investment professionals call 'the law of large numbers.' Alex Berenson
Alternatively, citation Jacob Bernoulli (AKA James or Jacques) understood the concept of frequentist probability and published a critical proof (the weak law of large numbers) posthumously in 1713. Source: Internet