Value of test statistic to test claim p is less than value

Reference no: EM13133387

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 = 397 numerical entries from the file and r = 110 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 What is the value of the test statistic?

Reference no: EM13133387

Questions Cloud

What entry will givens brick company make to pay off : Admire County Bank agrees to lend Givens Brick Company $300,000 on January 1. Givens Brick Company signs a $300,000, 8%, 9-month note. What entry will Givens Brick Company make to pay off the note and interest at maturity assuming that interest ha..

What amount of interest income : What amount of interest income should be included in Moor's 2011 income statement (the second year of the contract)?

Problem related to brokerage account : You have $42,180.53 in a brokerage account, and you plan to deposit a additional $5,000 at the end of every future year until your account totals $250,000. You expect to earn 12% annually on the account. How many years will it take to reach your g..

How many grams of chlorine are required : how many grams of chlorine are required to react completely with 5.00grams of sodium to produce sodium chlorde ?

Value of test statistic to test claim p is less than value : 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 What is the value of the test statistic?

Why would a person purchase a callable bond : if a company liquidates, which investment has priority? what if you had preferred stock?

Calculate the values of p and q : A buffer solution of pH of 9.25 contains P mol of a weak base and Q mol of a salt of its conjugate acid. When 120 cm3 of a 0.0140 mol.dm-3 solution of hydrochloric acid was added to this buffer solution

Explain the benefits of a stock dividend : Explain the benefits of a stock dividend both to the coprporation issuing the dividend and to the shareholder receiving the dividend.

Compute contribution margin for the company : Branwin Corporation sold 7,200 units of its product at a price of $35.60 per unit. Total variable cost per unit is $17.55, consisting of $10.50 in variable production cost and $7.05 in variable selling and administrative cost. Compute contribution..

User Account

All Pages