Benford's law states that the probability distribution of the first digits of many items (e.g. populations andexpenses) is not uniform, but has the probabilities shown in this table.Business expenses tend to follow Benford's Law, because there are generally more small expenses thanlarge expenses.Perform a "Goodness of Fit" Chi-Squared hypothesis test (a = 0.05) to see if these values are consistentwith Benford's Law.If they are not consistent, it there might be embezzelment.Complete this table. The sum of the observed frequencies is 97ObservedExpectedFrequency(Counts)Benford'sx Frequency(Counts)Law P(X)1 20.3012 27.1763 9.1254|| 10.0975 10.0796| 8.06773.0588 5.05195.046Report all answers accurate to three decimal places.What is the chi-square test-statistic for this data? (Report answer accurate to three decimal places.)X =What is the P-value for this sample? (Report answer accurate to 3 decimal places.)P-value =The P-value is...O less than (or equal to) agreater than aThis P-Value leads to a decision to...O reject the null hypothesisO fail to reject the null hypothesisAs such, the final conclusion is that...O There is sufficient evidence to warrant rejection of the claim that these expenses are consistentwith Benford's Law..O There is not sufficient evidence to warrant rejection of the claim that these expenses are consistentwith Benford's Law..

Name: Benford's law states that the probability distribution of the first d
Uploaded: 2024-03-20T07:06:41.000Z
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Description: Benford's law states that the probability distribution of the first digits of many items (e.g. populations andexpenses) is not uniform, but has the probabilities shown in this table.Business expenses tend to follow Benford's Law, because there are g

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Math

Statistics

Benford's law states that the probability distribution of the first digits of many items (e.g. populations and expenses) is not uniform, but has the probabilities shown in this table. Business expenses tend to follow Benford's Law, because there are generally more small expenses than large expenses. Perform a "Goodness of Fit" Chi-Squared hypothesis test (a = 0.05) to see if these values are consistent with Benford's Law. If they are not consistent, it there might be embezzelment.