Explanation Given Information: The distribution of first digits of Good neighbor, Inc.’s tax returns is: y 1 2 3 4 5 6 7 8 9 P ( Y = y ) 0.28 0.16 0.10 0.11 0.07 0.09 0.05 0.07 0.07 The sample size is n = 400 . Consider the distribution of first digits of Good neighbor, Inc.’s tax returns: y 1 2 3 4 5 6 7 8 9 P ( Y = y ) 0.28 0.16 0.10 0.11 0.07 0.09 0.05 0.07 0.07 To compute the 95 % certainty compare the sum of squares of error (SSE) to the largest error that would have been expected to get by chance in 95 out of 100 selections of data. The biggest error is computed using the “chi-square” distribution. If the SSE is less than the chi-square value then 95 % certainty is not obtained. Compute the chi-squared value using MS-Excel by entering, " = CHISQ .INV .RT ( 0.05 , 8 ) " . Where 0.05 is 1 − 0 .95 denoting the 95 % certainty and 8 is the degrees of freedom = number of outcomes − 1 . Compute the SSE to determine how far a data value deviates from the value according to the Benford’s law using the formula, S S E = n [ P ( y 1 ) − P ( x 1 ) P ( x 1 ) + P ( y 2 ) − P ( x 2 ) P ( x 2 ) + ... + P ( y 9 ) − P ( x 9 ) P ( x 9 ) ] Where P ( y i ) are the probabilities in the Good are neighbor, Inc

7th Edition

ISBN: 9781337280426

Author: Stefan Waner, Steven Costenoble

Publisher: Cengage Learning

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Chapter 8, Problem 8CS

To determine

Whether the given distribution of first digits of Honest Growth Funds stockholder report with a sample size of n=400 fails, with 95% certainty, to follow Benford’s law:

y 1 2 3 4 5 6 7 8 9

P(Y=y) 0.28 0.16 0.10 0.11 0.07 0.09 0.05 0.07 0.07

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Chapter 8, Problem 7CS

Chapter A, Problem 1E

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Chapter 8 Solutions

Finite Mathematics

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Ch. 8.1 - In Exercises 1118, (a) say what an appropriate...Ch. 8.1 - In Exercises 1118, (a) say what an appropriate...Ch. 8.1 - Prob. 13E Ch. 8.1 - In Exercises 1118, (a) say what an appropriate...Ch. 8.1 - In Exercises 1118, (a) say what an appropriate...Ch. 8.1 - In Exercises 1118, (a) say what an appropriate...Ch. 8.1 - In Exercises 1118, (a) say what an appropriate...Ch. 8.1 - Prob. 18E Ch. 8.1 - Prob. 19E Ch. 8.1 - The random variable X has the probability...Ch. 8.1 - In Exercises 2128, give the probability...Ch. 8.1 - In Exercises 2128, give the probability...Ch. 8.1 - Prob. 23E Ch. 8.1 - In Exercises 2128, give the probability...Ch. 8.1 - In Exercises 2128, give the probability...Ch. 8.1 - In Exercises 2128, give the probability...Ch. 8.1 - Prob. 27E Ch. 8.1 - Prob. 28E Ch. 8.1 - 2010 Income Distribution up to $100,000 The...Ch. 8.1 - 2003 Income Distribution up to $100,000 Repeat...Ch. 8.1 - Population Age in Mexico The following chart shows...Ch. 8.1 - Population Age in the United States Repeat...Ch. 8.1 - 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Prob. 47RE Ch. 8 - Prob. 48RE Ch. 8 - Prob. 49RE Ch. 8 - Prob. 50RE Ch. 8 - Prob. 51RE Ch. 8 - Prob. 52RE Ch. 8 - Prob. 53RE Ch. 8 - Prob. 54RE Ch. 8 - Prob. 55RE Ch. 8 - Prob. 56RE Ch. 8 - Prob. 1CS Ch. 8 - Prob. 2CS Ch. 8 - Prob. 3CS Ch. 8 - Prob. 4CS Ch. 8 - Which of the following lists of data would you...Ch. 8 - Prob. 6CS Ch. 8 - Prob. 7CS Ch. 8 - Prob. 8CS

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Whether the given distribution of first digits of Honest Growth Funds stockholder report with a sample size of n = 400 fails, with 95 % certainty, to follow Benford’s law: y 1 2 3 4 5 6 7 8 9 P ( Y = y ) 0.28 0.16 0.10 0.11 0.07 0.09 0.05 0.07 0.07

Solution Summary: The author explains that the distribution of first digits of Honest Growth Funds stockholder report with a sample size of n=400 fails to follow Benford's law.

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Whether the given distribution of first digits of Honest Growth Funds stockholder report with a sample size of n=400 fails, with 95% certainty, to follow Benford’s law:

y 1 2 3 4 5 6 7 8 9

P(Y=y) 0.28 0.16 0.10 0.11 0.07 0.09 0.05 0.07 0.07

Want to see the full answer?

Chapter 8 Solutions

Whether the given distribution of first digits of Honest Growth Funds stockholder report with a sample size of n = 400 fails, with 95 % certainty, to follow Benford’s law: y 1 2 3 4 5 6 7 8 9 P ( Y = y ) 0.28 0.16 0.10 0.11 0.07 0.09 0.05 0.07 0.07

Solution Summary: The author explains that the distribution of first digits of Honest Growth Funds stockholder report with a sample size of n=400 fails to follow Benford's law.

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Whether the given distribution of first digits of Honest Growth Funds stockholder report with a sample size of n=400 fails, with 95% certainty, to follow Benford’s law: y 1 2 3 4 5 6 7 8 9 P(Y=y) 0.28 0.16 0.10 0.11 0.07 0.09 0.05 0.07 0.07

Want to see the full answer?

Chapter 8 Solutions

Whether the given distribution of first digits of Honest Growth Funds stockholder report with a sample size of n=400 fails, with 95% certainty, to follow Benford’s law:

y 1 2 3 4 5 6 7 8 9

P(Y=y) 0.28 0.16 0.10 0.11 0.07 0.09 0.05 0.07 0.07