Hello! Every time I put these numbers into the z formula I get 2.71, which is wrong but I have no idea why. 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 the auditor for a very large corporation. The revenue file contains millions of numbers in a large computer data bank. You draw a random sample of n = 230 numbers from this file and r = 87 have a first nonzero digit of 1. Let p represent the population proportion of all numbers in the computer file that have a leading digit of 1. (i) Test the claim that p is more than 0.301. Use α = 0.05. What is the value of the sample test statistic? (Round your answer to two decimal places.)
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Hello! Every time I put these numbers into the z formula I get 2.71, which is wrong but I have no idea why.
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 the auditor for a very large corporation. The revenue file contains millions of numbers in a large computer data bank. You draw a random sample of n = 230 numbers from this file and r = 87 have a first nonzero digit of 1. Let p represent the population proportion of all numbers in the computer file that have a leading digit of 1.
(i) Test the claim that p is more than 0.301. Use α = 0.05.
What is the value of the sample test statistic? (Round your answer to two decimal places.)
Step by step
Solved in 2 steps
