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Benfords law states that the probability distribution of the first digits of many items (e.g. populations and expenses) is not uniform, but has the probabilities sh...

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Benfords law states that the probability distribution of the first digits of many items (e.g. populations and expenses) is not uniform, but has the probabilities shown in this table_ Business expenses tend to follow Benfords Law, because there are generally more small expenses than large expenses Perform Goodness of Fit" Chi-Squared hypothesis test (a 0.05) to see if these values are consistent with Benfords Law If they are not consistent, it there might be embezzelment _ Complete this tabl

Benfords law states that the probability distribution of the first digits of many items (e.g. populations and expenses) is not uniform, but has the probabilities shown in this table_ Business expenses tend to follow Benfords Law, because there are generally more small expenses than large expenses Perform Goodness of Fit" Chi-Squared hypothesis test (a 0.05) to see if these values are consistent with Benfords Law If they are not consistent, it there might be embezzelment _ Complete this table The sum of the observed frequencies is 138 Observed Expected Benford's Frequency Frequency Law P(X) (Counts) (Counts) 301 176 125 097 079 067 058 051 046 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 decimal places:) P-value The P-value less than (or equal to) greater than This P-Value leads to decision to:- reject the null hypothesis fail to reject the null hypothesis As such, the final conclusion is that There is sufficient evidence to warrant rejection of the claim that these expenses are consistent with Benfords Law: There is not sufficient evidence to warrant rejection of the claim that these expenses are consistent with Benfords Law: -

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