The Law of Small Numbers Describes

Multiple Choice

The law of small numbers describes:

A) the tendency for people to overstate the probability associated with rare events.
B) the ability to correctly estimate the expected outcome from a small number of events.
C) the higher probability that small numbers (like 1, 2, and 3) occur in random samples relative to large number (like 8 or 9) .
D) the improved accuracy of averages to estimate relatively small numbers (on the order of 1 or 10) than relatively large numbers (on the order of 1,000 or 10,000) .