Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Benford's Law is a description of the frequency distribution of the leading digits in real-life numerical data sets.The law states that the leading digit of

Benford's Law is a description of the frequency distribution of the leading digits in real-life numerical data sets.The law states that the leading digit of a naturally occurring data set is likely to be small.For instance, the number one has the highest probability of being the leading digit of a larger number, followed by two, etc.The probability distribution follows the formula P(d)=log_10(d+1)/d, where "d" is a single digit 1, 2, 3, 4, 5, 6, 7, 8, or 9.

Though this is called a law, it is susceptible to not being true for many data sets.For this assignment, I would like you to find two naturally occurring data set of numbers (no simulations, or random draws).One set should follow Benford's Law, and one set should fail Benford's Law.I would like a plot of each data set with an overlay of Benford's Law's curve.Then an explanation of why Benford's Law failed with your particular data set.

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

Measure And Integral

Authors: Martin Brokate, Götz Kersting

1st Edition

331915365X, 9783319153650

More Books

Students also viewed these Mathematics questions

Question

What is the difference between aggression and passive-aggression?

Answered: 1 week ago