long-run relative frequency
The number that the relative frequencies get closer and closer to as more and more trials are performed
In probability theory, the long-run relative frequency is a concept that is used to describe the proportion of times a particular outcome occurs when an experiment is repeated numerous times.
The concept typically relates to a specific event or outcome, and it is the ratio of the number of times that the outcome occurs to the total number of times the experiment is repeated. For instance, if an experiment is conducted 100 times, and the outcome occurs 20 times, the long-run relative frequency of that outcome is 20/100 or 0.2.
It is important to note that as the number of repetitions of an experiment increases, the long-run relative frequency of the outcomes tends to approach the actual probability of the event occurring. This is known as the law of large numbers, which states that as more and more trials are performed, the actual frequency of an event approaches its expected value.
Thus, the long-run relative frequency is a way of estimating probabilities based on empirical data, and is a fundamental concept in probability theory.
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