What principle states that with repeated events, the outcome of a specific event becomes more predictable?

The principle that indicates that with repeated events, the outcome of a specific event becomes more predictable is the Law of Large Numbers. This statistical theorem is fundamental in probability theory and states that as the number of trials or events increases, the average of the results will converge to the expected value or the theoretical mean.

In practical terms, this means that if you repeatedly perform an experiment or event, the results will stabilize around a particular value, making predictions about future outcomes more reliable. For instance, if you are flipping a coin multiple times, while individual results can vary (with wins and losses far apart from their expected probabilities in a small sample), over a large number of flips, the proportion of heads and tails will approach 50% each.

Understanding this principle is crucial for public adjusters, as they often deal with probabilities and statistical averages when estimating claims and losses. In contrast, the other terms do not specifically address the behavior of outcomes with increased occurrences like the Law of Large Numbers does.