What is the law of large numbers? Why do insurers rely on the law of large numbers?

a it is a mathematical phenomenon known to improve expected losses

b as the sample size decline the standard deviation is getting smaller and insurers want to predict correctly

c insurers rely on predictions, not the law of large numbers

d we cannot prove the law of large numbers

e as the sample size increases the standard deviation is getting smaller and insurers want to predict losses correctly

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