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Category > Statistics Posted 14 Jun 2017 My Price 4.00

Detecting Fraud

Detecting Fraud The Brooklyn District Attorney’s office analyzed the leading digits of check amounts in order to identify fraud. The leading digit of 1 is expected to occur 30.1% of the time, according to Benford’s law that applies in this case. Among 784 checks issued by a suspect company, there were none with amounts that had a leading digit of 1.

a. For randomly selected checks, there is a 30.1% chance that the leading digit of the check amount is 1. What is the expected number of checks that should have a leading digit of 1?

b. Assume that groups of 784 checks are randomly selected. Find the mean and standard deviation for the numbers of checks with amounts having a leading digit of 1.

c. Use the results from part (b) and the range rule of thumb to find the range of usual values.

Answers

Alpha Geek
(8)
Status NEW Posted 14 Jun 2017 08:06 AM My Price 4.00

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file 1497427729-Answer.docx preview (34 words )
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