The Law of Averages is a layman's term used to describe the belief that the results of any given event "work out" or "even out" over a set of trials in the short run.
The LoA's assumes that balance will always occur within a small sample.
Essentially, it is the belief that a rare occurrence will happen given enough time and is similar to the shotgun effect
1) If you flip a coin 10 times, the Law of Averages states that 5 flips will be heads, and the other 5 flips will be tails.
2) If you apply to enough Universities, the Law of Averages states that you will eventually get into atleast one.
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