law of averages

law of averages
a) The statistical tendency toward a fixed proportion in the results when an experiment is repeated a large number of times; the law of large numbers.

... as they will not have sufficient distribution of risk to permit the law of averages to play its part and a severe total loss may ...

b) An imaginary or perceived "law" of probabilities which is wrongly used to predict results in the short-term.

Second Law - The Law of Averages. Whenever something (such as throwing a die) can have more than one result, if all the possible results have an equal chance ...


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  • law of averages — ► NOUN ▪ the supposed principle that future events are likely to turn out so that they balance any past deviation from a presumed average …   English terms dictionary

  • law of averages — n. the popularly held supposition that a possible event can be expected to occur with a frequency at or near its probability …   English World dictionary

  • Law of averages — The law of averages is a lay term used to express a belief that outcomes of a random event shall even out within a small sample.As invoked in everyday life, the law usually reflects bad statistics or wishful thinking rather than any mathematical… …   Wikipedia

  • law of averages — {n. phr.} The idea that you can t win all the time or lose all the time. * /The Celtics have won 10 games in a row but the law of averages will catch up with them soon./ …   Dictionary of American idioms

  • law of averages — {n. phr.} The idea that you can t win all the time or lose all the time. * /The Celtics have won 10 games in a row but the law of averages will catch up with them soon./ …   Dictionary of American idioms

  • law\ of\ averages — n. phr. the idea that you can t win all the time or lose all the time. The Celtics have won 10 games in a row but the law of averages will catch up with them soon …   Словарь американских идиом

  • law of averages, the — noun the principle that if something with more than one possible result happens enough times, the result you want is certain to happen at some time …   Usage of the words and phrases in modern English

  • law of averages — law′ of av′erages n. 1) cvb sta a statistical principle formulated by Jakob Bernoulli to show a more or less predictable ratio between the number of random trials of an event and the outcomes that result 2) cvb sts the principle that, in the long …   From formal English to slang

  • law of averages — noun a law affirming that in the long run probabilities will determine performance • Hypernyms: ↑law, ↑law of nature …   Useful english dictionary

  • law of averages — Date: 1874 the commonsense observation that probability influences everyday life so that over the long term the possible outcomes of a repeated event occur with specific frequencies …   New Collegiate Dictionary

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