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 = 226 numbers from this file andr = 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.

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 = 226 numbers from this file andr = 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.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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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 of n = 215 numerical entries from the file and r = 50 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. (b) What sampling distribution will you use? The Student's t, since np > 5 and nq > 5.The standard normal, since np < 5 and nq < 5. The standard normal, since np > 5 and nq > 5.The Student's t, since np < 5 and nq < 5. What is the value of the sample test…
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 = 226 numbers from this file and r = 85 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 ? = 0.05. (a) What is the level of significance?State the null and alternate hypotheses. H0: p > 0.301; H1: p = 0.301 H0: p = 0.301; H1: p > 0.301 H0: p = 0.301; H1: p < 0.301 H0: p = 0.301; H1: p ≠ 0.301 (b) What sampling distribution will you use? The…
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 = 228 numbers from this file and r = 85 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 ? = 0.10 (a) What is the value of the sample test statistic? (Round your answer to two decimal places.) (b) Find the P-value of the test statistic. (Round your answer to four decimal places.)
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 of n = 221 numerical entries from the file and r = 50 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. (i) Test the claim that p is less than 0.301. Use α = 0.05. (a) What is the level of significance? State the null and alternate hypotheses. Ho: P = 0.301; H₁: p = 0.301 Ho: P 0.301 Ho: P = 0.301; H₁: p 5 and nq > 5. O The Student's t, since np 5 and nq > 5. What is the value of the…
An article in Fortune (September 21, 1992) claimed that nearly one-half of all engineers continue academic studies beyond the B.S. degree, ultimately receiving either an M.S. or a Ph.D. degree. Data from an article in Engineering Horizons (Spring 1990) indicated that 117 of 484 new engineering graduates were planning graduate study. Are the data from Engineering Horizons consistent with the claim reported by Fortune? Use a = 0.02 in reaching your conclusions. Find the P-value. Give your answer. The true proportion of engineering students planning graduate studies The P-value is less than ✓ (choose the least possible). significantly different from 0.5 at a = 0.02.
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 = 226 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. 1) Test the claim that p is more than 0.301. Use α = 0.10. 2) What is the value of the sample test statistic? (Round your answer to two decimal places.) 3) Find the P-value of the test statistic. (Round your answer to four decimal places.) 4) If p is in fact larger than 0.301, it would seem there are too many numbers 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 of n = 223 numerical entries from the file and r = 48 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1.(i) Test the claim that p is less than 0.301. Use ? = 0.05. (a) What is the level of significance?State the null and alternate hypotheses. H0: p < 0.301; H1: p = 0.301 H0: p = 0.301; H1: p > 0.301 H0: p = 0.301; H1: p < 0.301 H0: p = 0.301; H1: p ≠ 0.301 (b) What sampling…
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 of n = 223 numerical entries from the file and r = 52 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1.(i) Test the claim that p is less than 0.301. Use ? = 0.05. (a) What is the level of significance?State the null and alternate hypotheses. H0: p = 0.301; H1: p > 0.301H0: p = 0.301; H1: p < 0.301 H0: p < 0.301; H1: p = 0.301H0: p = 0.301; H1: p ≠ 0.301 (b) What sampling…
On average, a sample of n = 36 scores will provide a better estimate of the population mean than a sample of n = 49 scores from the same population.
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 of n = 220 numerical entries from the file and r = 51 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1.(i) Test the claim that p is less than 0.301. Use α = 0.10. (a) What is the level of significance? 0.20 What is the value of the sample test statistic? (Round your answer to two decimal places.)??? (c) Find the P-value of the test statistic. (Round your answer to four decimal…
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 of n = 225 numerical entries from the file and r = 51 of the entries had a first nonzero digit of 1. Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1.(i) Test the claim that p is less than 0.301. Use ? = 0.05.
Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good barometer of the overall stock market. On January 31, 2017, 9 of the 30 stocks making up the DJIA increased in price.On the basis of this fact, a financial analyst claims we can assume that 54% of the stocks traded on the New York Stock Exchange (NYSE) went up the same day. A sample of 74 stocks traded on the NYSE that day showed that 35 went up. You are conducting a study to see if the proportion of stocks that went up is significantly smaller than 54%. You use a significance level of α=0.05α=0.05. how to you come up with the test statistic and p value using excel