Detecting Number Fraud

Detecting Number Fraud

Benford's Law states that in natural sets of numbers (such as river lengths, city populations, and financial transactions), the probability of the first number is not even. There is a 30% chance for a number to start with 1, but only a 5% chance for it to start with 9. This law is so reliable that it is used to detect fraud.

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Categories: Misc

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