Frank Benford, a physicist working in the 1930s, discovered an interesting fact about some sets of numbers.
Question:
(a) According to Benfords law, what is the probability that a leading digit of a street address is 1? What is the probability for 9?
(b) Using this probability function, what proportion of street addresses begin with a digit greater than 2?
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Statistics Unlocking The Power Of Data
ISBN: 9780470601877
1st Edition
Authors: Robin H. Lock, Patti Frazer Lock, Kari Lock Morgan, Eric F. Lock, Dennis F. Lock
Question Posted: