(d) Benford's law can be used to detect fraudulent financial records. Further investigation of a company's financial records is undertaken if a calculated 95% confidence interval supports the claim that the mean of the leading digit of the financial records is greater than 3.441. Consider a random sample of 250 numbers from a company's records. The mean of the leading digit in this sample is = 3.816. (i) Calculate a 95% confidence interval for the mean of the leading digit of the company's financial records, using the random sample described above. Assume that the standard deviation is o = 2.462.
(d) Benford's law can be used to detect fraudulent financial records. Further investigation of a company's financial records is undertaken if a calculated 95% confidence interval supports the claim that the mean of the leading digit of the financial records is greater than 3.441. Consider a random sample of 250 numbers from a company's records. The mean of the leading digit in this sample is = 3.816. (i) Calculate a 95% confidence interval for the mean of the leading digit of the company's financial records, using the random sample described above. Assume that the standard deviation is o = 2.462.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.2: Expected Value And Variance Of Continuous Random Variables
Problem 10E
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