Define the law of large numbers. What are its implications for an insurance system?

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Introduction to Risk Management and Insurance

ISBN: 978-0131394124

10th edition

Authors: Mark S. Dorfman, David Cather

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Question Posted: Dec 07, 2015 06:11 AM

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Define the law of large numbers. What are its implications for an insurance system?

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The law of large numbers states that as sample size increases as m...View the full answer

Introduction to Risk Management and Insurance

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