Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 ofn=220numerical entries from the file andr=48of the entries had a first nonzero digit of 1. Letprepresent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1.

What is the value of the sample test statistic? (Round your answer to two decimal places.)

(c) Find theP-value of the test statistic. (Round your answer to four decimal places.)

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_2

Step: 3

blur-text-image_3

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

Precalculus Enhanced With Graphing Utilities (Subscription)

Authors: Michael, Michael Sullivan III, Michael III Sullivan, III Sullivan

6th Edition

0321849108, 9780321849106

More Books

Students also viewed these Mathematics questions

Question

e. What do you know about your ethnic background?

Answered: 1 week ago

Question

b. Why were these values considered important?

Answered: 1 week ago