t is a striking fact that the first digits of numbers in legitimate records often follow a distribution known as Benford's law. Here t is: First digit 1 2 3 4. 6. 7 8. 9. Proportion 0.301 0.176 0.125 0.097 0.079 0.067 0.058 0.051 0.046 Fake records usually have fewer first digits 1, 2, and 3. What is the approximate probability, if Benford's law holds, that among 1000 randomly chosen invoices there are 565 or fewer amounts with first digit 1, 2, or 3? Give your answer to four decimal places. probability:

t is a striking fact that the first digits of numbers in legitimate records often follow a distribution known as Benford's law. Here t is: First digit 1 2 3 4. 6. 7 8. 9. Proportion 0.301 0.176 0.125 0.097 0.079 0.067 0.058 0.051 0.046 Fake records usually have fewer first digits 1, 2, and 3. What is the approximate probability, if Benford's law holds, that among 1000 randomly chosen invoices there are 565 or fewer amounts with first digit 1, 2, or 3? Give your answer to four decimal places. probability:

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter8: Sequences, Series,and Probability

Section8.7: Probability

Problem 4ECP: Show that the probability of drawing a club at random from a standard deck of 52 playing cards is...

See similar textbooks

Similar questions

A manufacturer has determined that a machine averages one faulty unit for every 500 it produces. What is the probability that an order of 300 units will have one or more faulty units?
What term is used to express the likelihood of an event occurring? Are there restrictions on its values? If so, what are they? If not, explain.

Recommended textbooks for you

College Algebra

Algebra

ISBN:

9781337282291

Author:

Ron Larson

Publisher:

Cengage Learning