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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 = 463 numerical entries from the file and r = 122 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 P-value of the test statistic?
Suppose you bid $12000. What is the probability that your bid will be accepted?
A probability value of .25 means that an event will occur:
A bowl with 10 marbles: 2 red marbles, 3 green marbles, and 5 blue marbles. We randomly select 4 marbles from the bowl, WITH REPLACEMENT, that is once a marble is selected, its color is noted and the marble is put back in the bowl (notice this doe..
Compute mean and standard deviation for sample of N = 8 females and sample of N = 8 for males.
Determine the probability mass function of the salesperson's November sales (in $). What is the probabiity that his sales for November will be less than 100k? Find the mean and standard deviation of the November sales.
Blood type AB is found in only 3% of the population. If 320 people are chosen at random, find the probability of the following. (Round your answers to four decimal places.)
To test the effectiveness of a new studying strategy, a teacher randomly divides a sample of 8 students into tow groups, with n = 4 in each group.
A survey covering 0 different suburbs in Dallas found the average price of gasoline to be $3.924 per gallon with a population standard deviation of $0.053. What critical value shoiuld be used to test the claim using a = 0.01?
Determine 80% confidence interval for average weights of Allen's hummingbirds in study regions. Determine the margin of error?
What is the probability that a randomly selected monthly cell phone bill is more than $100?
The 50 members of the placebo group had blood pressure lowered by an average of 15 points with standard deviation 8 points. To analyze this information we will use a, When testing whether or not the increases in spending are different, the test is ..
Develop a point of the population standard deviation for life expectancy of VCRs.
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