Question
Summarize the concept of the Law of Large Numbers. Do not give a formal definition . Apply the definition in an example. Be specific and
Summarize the concept of the "Law of Large Numbers."Do not give a formal definition. Apply the definition in an example. Be specific and clear.
Summarize the concept of the "Gambler's Fallacy". Again,do not give a formal definition. Apply the definition in an example. Once again, be specific and clear.
Make sure to cite your sources.Do not copy from your sources!That is plagiarism and is not acceptable.
The foundation of both of these concepts is probability so you must incorporate that into your examples. Do not use an example already used by your classmates.
Here are my videos for this week's content. As always, I strongly encourage you to watch them.
- 6 - Probability Basicshttps://youtu.be/mTRHZP8Ndg4
- 7 - Probability Addition Rulehttps://youtu.be/eLtVqntRr14
Here is an additional YouTube video on drawing tree diagrams:https://www.youtube.com/watch?v=lJvy4CeF3Ho
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
