Solving problem using the benford law

Reference no: EM131764089

Question: Using Benford's law According to Benford's law, the probability that the first digit of the amount on a randomly chosen invoice is a 1 or a 2 is 0.477. Suppose you examine an SRS of 90 invoices from a vendor and find 29 that have first digits 1 or 2. Do you suspect that the invoice amounts are not genuine? Compute an appropriate probability to support your answer.

Reference no: EM131764089

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