In the past, leading (leftmost) digits of the amounts on checks have been analyzed for fraud. For
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In the past, leading (leftmost) digits of the amounts on checks have been analyzed for fraud. For checks not involving fraud, the leading digit of 1 is expected about 30.1% of the time. Obtain a random sample of actual check amounts and record the leading digits. Compare the actual number of checks with amounts that have a leading digit of 1 to the 30.1% rate expected. Do the actual checks conform to the expected rate, or is there a substantial discrepancy? Explain.
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Solution a Our data consists of a random sample of 32 actual check amounts 1 1 2 1 2 2 1 3 2 1 4 6 2 ...View the full answer
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