Final answer:
The Law of Large Numbers allows for all of the following except: Prediction of individual losses based upon past experience.
Step-by-step explanation:
The Law of Large Numbers allows for all of the following except: Prediction of individual losses based upon past experience.
The Law of Large Numbers states that as the number of trials in a probability experiment increases, the difference between the theoretical probability of an event and the relative frequency approaches zero.
It allows for the calculation of rates to compensate for losses, a decreased degree of error in predicting losses of large groups, and the prediction of group loss based upon past experience.