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(n) :
the statistical tendency toward a fixed proportion in the results when an experiment is repeated a large number of times; the law of large numbers; an imaginary or perceived "law" of probabilities which is wrongly used to predict results in the short-term

"this coin has landed on heads ten times, so by the law of averages it must land on tails next time."

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for law of averages:

(n) :
the statistical tendency toward a fixed proportion in the results when an experiment is repeated a large number of times; the law of large numbers; an imaginary or perceived "law" of probabilities which is wrongly used to predict results in the short-term

"this coin has landed on heads ten times, so by the law of averages it must land on tails next time."