The law of large numbers states that
A) the smaller the number of risks combined into 1 group, the less uncertainty there will be as to the amount of loss that will be incurred
B) the larger the number of risks combined into 1 group, the smaller the loss will be to any 1 individual in that group
C) the larger the number of risks combined into 1 group, the less uncertainty there will be as to the amount of loss that will be incurred
D) the smaller the number of risks combined into 1 group, the larger the loss will be to any 1 individual in that group"
Ans: C) the larger the number of risks combined into 1 group, the less uncertainty there will be as to the amount of loss that will be incurred
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