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Forensic accountants look for fraud in invoices, among other matters. Invoice numbers obey Benford's law, which states that the probability an invoice number starts with
Forensic accountants look for fraud in invoices, among other matters. Invoice numbers obey Benford's law, which states that the probability an invoice number starts with either a 1 or 2 is 0.477. A forensic accountant examining a random sample of 100 invoices finds 55 that begin with a 1 or 2, an outcome which has a probability of 0.72. To determine whether this is a significant number, we test the hypotheses H0: p = 0.477 and Ha: p 0.477. Which of the following accurately describes the P-value of this test? The P-value is the probability of getting an outcome at least as large at 0.72. The P-value is the probability of getting an outcome of 1 - 0.72, or 0.28. The P-value is the probability of getting an outcome of 1 - 0.477, or 0.533. The P-value is the probability of getting an outcome of 0.477
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