Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2. [-/0.3 Points] DETAILS BBUNDERSTAT12 8.3.007.S. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Recall that Benford's Law claims that numbers chosen from very large data

image text in transcribed
2. [-/0.3 Points] DETAILS BBUNDERSTAT12 8.3.007.S. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as the first nonzero digit disproportionately often. In fact, research has shown that if you randomly draw a number from a very large data file, the probability of getting a number with "1" as the leading digit is about 0.301. Now suppose you are an auditor for a very large corporation. The revenue report involves millions of numbers in a large computer file. Let us say you took a random sample of n = 225 numerical entries from the file and r = 52 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. (i) Test the claim that p is less than 0.301. Use a = 0.05. In USE SALT (a) What is the level of significance? State the null and alternate hypotheses. Ho: P = 0.301; H, : p > 0.301 Ho: P = 0.301; H,: p 5 and nq > 5. The Student's t, since np 5 and nq > 5. The standard normal, since np

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Algebra Concepts And Graphs

Authors: Charles P McKeague

1st Edition

1630980110, 9781630980115

More Books

Students also viewed these Mathematics questions

Question

=+b) Why is there no predictor variable for December?

Answered: 1 week ago

Question

3. It is the commitment you show that is the deciding factor.

Answered: 1 week ago