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a striking fact that the first digits of numbers in legitimate records often ow a distribution known as Den it is: First digit 1 Proportion 0.301 probability: 0.0008 2 0.176 Incorrect 3 0.125 4 0.097 Fake records usually have fewer first digits 1, 2, and 3. What is the approximate probability, if Benford's law holds, that among 1500 randomly chosen invoices there are 894 or fewer amounts with first digit 1, 2, or 3? Give your answer to four decimal places. 5 6 0.079 0.067 7 9 8 0.058 0.051 0.046

a striking fact that the first digits of numbers in legitimate records often ow a distribution known as Den it is: First digit 1 Proportion 0.301 probability: 0.0008 2 0.176 Incorrect 3 0.125 4 0.097 Fake records usually have fewer first digits 1, 2, and 3. What is the approximate probability, if Benford's law holds, that among 1500 randomly chosen invoices there are 894 or fewer amounts with first digit 1, 2, or 3? Give your answer to four decimal places. 5 6 0.079 0.067 7 9 8 0.058 0.051 0.046

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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It is a striking fact that the first digits of numbers in legitimate records often follow a distribution known as Benford's law. Here it is: First digit Proportion 1 2 0.301 0.176 probability: 0.0008 3 0.125 Incorrect 4 0.097 7 5 6 0.079 0.067 0.058 Fake records usually have fewer first digits 1, 2, and 3. What is the approximate probability, if Benford's law holds, that among 1500 randomly chosen invoices there are 894 or fewer amounts with first digit 1, 2, or 3? Give your answer to four decimal places. 8 0.051 9 0.046
Transcribed Image Text:It is a striking fact that the first digits of numbers in legitimate records often follow a distribution known as Benford's law. Here it is: First digit Proportion 1 2 0.301 0.176 probability: 0.0008 3 0.125 Incorrect 4 0.097 7 5 6 0.079 0.067 0.058 Fake records usually have fewer first digits 1, 2, and 3. What is the approximate probability, if Benford's law holds, that among 1500 randomly chosen invoices there are 894 or fewer amounts with first digit 1, 2, or 3? Give your answer to four decimal places. 8 0.051 9 0.046
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