Question

Which of the following statements best describes the law of large numbers?

A) Large numbers of people should be involved if a gamble has to be successful.

B) Risk involved in a gamble is low when the money invested in it is large.

C) The mean return will get closer and closer to its expected value the more times a gamble is repeated.

D) Risk involved in a gamble is low when the prize is large.

Answer

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