What is the law of large numbers? As the sample size decreases, the relative frequency of outcomes gets closer to the theoretical probability of the outcome.As the sample size increases, the cumulative frequency of outcomes gets closer to the theoretical probability of the outcome.     As the sample size increases, the relative frequency of outcomes gets closer to the theoretical probability of the outcome.As the sample size increases, the relative frequency of outcomes moves further from the theoretical probability of the outcome. If you were using the relative frequency of an event to estimate the probability of the event, would it be better to use 100 trials or 500 trials? Explain. It would be better to use 500 trials, because the law of large numbers would take effect.It would be better to use 100 trials, because the law of large numbers would take effect.     It would be better to use 500 trials, because 100 trials is always too small.It would be better to use 100 trials, because 500 trials is always too big.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.