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. 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 = 247 numerical entries from the file and r = 60 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. Test the claim that p is less than 0.301 by using α = 0.1. Are the data statistically significant at the significance level? Based on your answers, will you reject or fail to reject the null hypothesis?Group of answer choices 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 shownthat if you randomly draw a number from a very large data file, the probability ofgetting a number with "1" as the leading digit is about 0.301. Suppose you are anauditor for a very large corporation. The revenue report involves millions ofnumbers in a large computer file. Let us say you took a random sample of n = 247numerical entries from the file and r = 60 of the entries had a first nonzero digit of 1.Let p represent the population proportion of all numbers in the corporate file thathave a first nonzero digit of 1. Test the claim that p is less than 0.301 by usinga = 0.1. Are the data statistically significant at the significance level? Based on youranswers, will you reject or fail to reject the null hypothesis?The P-value is less than the level of significance so the data are not statisticallysignificant. Thus, we reject the null hypothesis.The P-value is less than the level of significance so the data are statisticallysignificant. Thus, we reject the null hypothesis.The P-value is less than the level of significance so the data are statisticallysignificant. Thus, we reject the null hypothesis.The P-value is greater than the level of significance so the data are notstatistically significant. Thus, we reject the null hypothesis.The P-value is less than the level of significance so the data are statisticallysignificant. Thus, we fail to reject the null hypothesis.

Question

Benford's Law claims that numbers chosen from very large data files tend to have &#34;1&#34; 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 &#34;1&#34; as the leading digit is about 0.301. 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 = 247 numerical entries from the file and r = 60 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. Test the claim that p is less than 0.301 by using α = 0.1. Are the data statistically significant at the significance level? Based on your answers, will you reject or fail to reject the null hypothesis?Group of answer choices Benford's Law claims that numbers chosen from very large data files tend to have&#34;1&#34; as the first nonzero digit disproportionately often. In fact, research has shownthat if you randomly draw a number from a very large data file, the probability ofgetting a number with &#34;1&#34; as the leading digit is about 0.301. Suppose you are anauditor for a very large corporation. The revenue report involves millions ofnumbers in a large computer file. Let us say you took a random sample of n = 247numerical entries from the file and r = 60 of the entries had a first nonzero digit of 1.Let p represent the population proportion of all numbers in the corporate file thathave a first nonzero digit of 1. Test the claim that p is less than 0.301 by usinga = 0.1. Are the data statistically significant at the significance level? Based on youranswers, will you reject or fail to reject the null hypothesis?The P-value is less than the level of significance so the data are not statisticallysignificant. Thus, we reject the null hypothesis.The P-value is less than the level of significance so the data are statisticallysignificant. Thus, we reject the null hypothesis.The P-value is less than the level of significance so the data are statisticallysignificant. Thus, we reject the null hypothesis.The P-value is greater than the level of significance so the data are notstatistically significant. Thus, we reject the null hypothesis.The P-value is less than the level of significance so the data are statisticallysignificant. Thus, we fail to reject the null hypothesis.

Accepted Answer

The null and alternative hypotheses are:
Ho: p = 0.301Ho:p=0.301
Ha: p &lt; 0.301Ha:p<0.301…