California Insurance License Exam Practice Test Practice Question
The more times an event is repeated, the more predictable the outcome becomes. This is an example of
Correct Answer: A
Rationale: The law of large numbers states that as the number of trials in an experiment increases, the average of the results will converge to the expected value, making outcomes more predictable.
Option B, standard deviation, measures the spread of data around the mean but does not address predictability with repeated trials.
Option C, average dispersion, is not a standard statistical term and does not accurately describe the principle of predictability in repeated events.
Option D, normal variance, refers to the variability of a normal distribution, which does not specifically relate to the predictability of outcomes through repetition.
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