Stats discussion post
In the past, leading 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? In your discussion post, share your numbers (n, x (number of checks with leading digit of 1)) and the sample percent of checks with a leading digit of 1. Answer the question posted and explain.