Law Of Large Numbers Quotes & Sayings

The law of probability combined with the law of large numbers states that to beat the odds, sometimes you have to repeat an event an increasing number of times in order to get you to the outcome you desire. The more you do, the closer you get. Or ... basically, sometimes you just have to keep going. — Jojo Moyes

Another mistaken notion connected with the law of large numbers is the idea that an event is more or less likely to occur because it has or has not happened recently. The idea that the odds of an event with a fixed probability increase or decrease depending on recent occurrences of the event is called the gambler's fallacy. For example, if Kerrich landed, say, 44 heads in the first 100 tosses, the coin would not develop a bias towards the tails in order to catch up! That's what is at the root of such ideas as "her luck has run out" and "He is due." That does not happen. For what it's worth, a good streak doesn't jinx you, and a bad one, unfortunately , does not mean better luck is in store. — Leonard Mlodinow

Although the method is simple, it shows how, mathematically, random brute force can overcome precise logic. It's a numerical approach that uses quantity to derive quality. — Liu Cixin

The engine driving the Kelly system is the "law of large numbers." In a 1713 treatise on probability, Swiss mathematician Jakob Bernoulli propounded a law that has been misunderstood by gamblers (and investors) ever since. — William Poundstone

Have you ever heard of the law of large numbers? If you carry on betting large sums day after day, then sooner or later you are bound to win everything back. As far — Boris Akunin

J. E. Littlewood, a mathematician at Cambridge University, wrote about the law of truly large numbers in his 1986 book, "Littlewood's Miscellany." He said the average person is alert for about eight hours every day, and something happens to the average person about once a second. At this rate, you will experience 1 million events every thirty-five days. This means when you say the chances of something happening are one in a million, it also means about once a month. The monthly miracle is called Littlewood's Law. — David McRaney

A variation in the objective exchange-value of money can arise only when a force is exerted in one direction that is not cancelled by a counteracting force in the opposite direction. If the causes that alter the ratio between the stock of money and the demand for it from the point of view of an individual consist merely in accidental and personal factors that concern that particular individual only, then, according to the law of large numbers, it is likely that the forces arising from this cause, and acting in both directions in the market, will counterbalance each other. — Ludwig Von Mises

What has happened here [aftermath of 9/11] is not war in its traditional sense. This is clearly a crime against humanity. War crimes are crimes which happen in war time. There is a confusion there. This is a crime against humanity because it is deliberate and intentional killing of large numbers of civilians for political or other purposes. That is not tolerable under the international systems. And it should be prosecuted pursuant to the existing laws. — Benjamin B. Ferencz

When a fruit salad, a lover, or a jazz trio is just too imperfect for our tastes, we stop eating, kissing, and listening. But the law of large numbers suggests that when a measurement is too imperfect for our tastes, we should not stop measuring. Quite the opposite - we should measure again and again until niggling imperfections yield to the onslaught of data. — Daniel M. Gilbert

If large numbers of people believe in freedom of speech, there will be freedom of speech, even if the law forbids it. But if public opinion is sluggish, inconvenient minorities will be persecuted, even if laws exist to protect them.
[Freedom of the Park, Tribune, 7 December 1945] — George Orwell

Many newly public companies are able to post a year or two of strong sales growth off a small base, but their growth almost always slows over time, thanks to what investment professionals call 'the law of large numbers.' — Alex Berenson

Our society is not held together primarily by law and its enforcement but most importantly by those who voluntarily obey the unenforceable because of their internalized norms of righteous or correct behavior. Religious belief in right and wrong is a vital influence to produce such voluntary compliance by a large number of our citizens. — Dallin H. Oaks

The relative freedom which we enjoy depends of public opinion. The law is no protection. Governments make laws, but whether they are carried out, and how the police behave, depends on the general temper in the country. If large numbers of people are interested in freedom of speech, there will be freedom of speech, even if the law forbids it; if public opinion is sluggish, inconvenient minorities will be persecuted, even if laws exist to protect them. — George Orwell

It is forbidden to kill; therefore all murderers are punished unless they kill in large numbers and to the sound of trumpets. — Voltaire

In the ninth and tenth centuries the Vikings invaded Britain from Scandinavia and settled in large numbers. Their language, which we call Old Norse, was at least partly comprehensible to the English, who did not hesitate to take over hundreds of words from it: skirt, window, scrub, sky, give, hit, kick, scatter, scrape, skill, scowl, score, fellow, want, skin, knife, law, happy, ugly, wrong and even the pronouns they and them. — Larry Trask

You wrong me. You wrong me, Mole. I loathe and despise this human trait of hounding smaller creatures to death, with large numbers opposed against one solitary animal. But, don't you see, it's the law of the wild. This poor fox is sacrificed today to the humans' cruelty. — Colin Dann

Amos and I called our first joint article "Belief in the Law of Small Numbers." We explained, tongue-in-cheek, that "intuitions about random sampling appear to satisfy the law of small numbers, which asserts that the law of large numbers applies to small numbers as well." We also included a strongly worded recommendation that researchers regard their "statistical intuitions with proper suspicion and replace impression formation by computation whenever possible. — Daniel Kahneman

It is a common fallacy to believe that the law of large numbers acts as a force endowed with memory seeking to return to the original state, and many wrong conclusions have been drawn from this assumption. — William Feller