Law of Large Numbers

The foundation of the Law of Large Numbers lies in the assumption of Independent and Identically Distributed (IID) random variables. Independence implies that the outcomes of one event do not influence the outcomes of another, while Identically Distributed signifies that the random variables share the same probability distribution. Consider flipping a fair coin as an example of IID. Each coin flip is independent — the outcome of one flip does not affect the outcome of the next. Moreover, the probability distribution remains the same for each flip, with a 50% chance of landing heads and a 50% chance of landing tails. This combination of independence and identical distribution is crucial for the Law of Large Numbers to hold. <a href="https://medium.com/@dugaryash/law-of-large-numbers-932da0fb2246">Visit Now</a>