Benford's law states that the probability distribution of the first digits of many items (e.g. popu…

Benford #x27;s law states that the probability distribution of the first digits of many items (e.g. populations and expenses) do not occur equally often (the distribution is not uniform), but has the probabilities shown in the below table. For example, business expenses tend to follow Benford #x27;s Law because there are generally more small expenses than large expenses. Perform a Goodness of Fit Chi-Squared hypothesis test (α = 0.05) to see if these values are consistent with Benford #x27;s Law. If they are not consistent, there might be embezzlement. Complete this table. The sum of the observed frequencies is 102. Observed Expected Benford #x27;s Frequency Frequency Law P(X) Count 301 176 125 079 058 051 046 Report 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 three decimal places.) P-value

Watch the full video at:

Never get lost on homework again. Numerade is a STEM learning website and app with the world’s largest STEM video library.
Join today and access millions of expert-created videos, each one skillfully crafted to teach you how to solve tough problems step-by-step.

Join Numerade today at:
#UnderstandingtheChiSquareDistribution:KeyConcepts&Applications