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Which of the following types of data is BEST suited for a BenfordTs Law analysis?
Suggested Answer: C
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26 comments · newest first
IS
Isaac
10 months ago
Really? I’m surprised it’s not A or B!
TH
Thad
10 months ago
C makes sense, payment amounts vary widely.
MA
Marti
11 months ago
Totally agree, C is the way to go!
SH
Shawnta
11 months ago
I thought A would work too, but I guess not.
AS
Ashley
11 months ago
C is definitely the best choice for Benford's Law!
SH
Shannan
11 months ago
I’m a bit confused. I thought Benford's Law applied to any kind of data, but now I’m questioning if telephone numbers could work too.
LA
Lashawnda
11 months ago
I practiced a similar question, and I recall that financial data like payment amounts often follow Benford's Law. So, C seems right to me.
WI
William
12 months ago
I’m not entirely sure, but I remember something about how Benford's Law works better with naturally occurring numbers. Maybe employee IDs don’t fit that?
RO
Ronny
12 months ago
I think Benford's Law is about analyzing numerical data, so I’m leaning towards option C with payment amounts.
HU
Hubert
1 year ago
Payment amounts seem like the obvious choice here. That's the kind of data that's commonly analyzed using Benford's Law.
JU
Julio
1 year ago
Hmm, I'm leaning towards the employee identification numbers. They seem like they could have the right distribution to fit Benford's Law.
DE
Delisa
1 year ago
I'm not too familiar with Benford's Law, so I'm not sure which of these options would be best. I'll have to review the concept before deciding.
JA
Jacob
1 year ago
I think the payment amounts would be best for a Benford's Law analysis, since that type of data tends to follow the Benford's distribution.
NA
Nakisha
1 year ago
Vendor addresses? Really? That's just silly. Unless the vendors are all based in Lake Wobegon, where 'all the women are strong, all the men are good-looking, and all the children are above average.'
JA
Janet
1 year ago
Hmm, I'm not sure. Employee IDs and phone numbers might have some interesting digit patterns too. But I guess payment amounts are more likely to follow Benford's Law. As long as the exam doesn't ask me to actually calculate the leading digit frequencies, I'm good!
DE
Deonna
1 year ago
I don't know, I'm still trying to wrap my head around this Benford's Law thing. Isn't it something to do with the frequency of certain digits in natural numbers or something? If that's the case, then C) sounds like the way to go.
AL
Aleta
1 year ago
Exactly. Employee IDs and addresses wouldn't fit as well.
SC
Scarlet
1 year ago
C) makes sense. Payment amounts vary a lot.
ST
Stanton
1 year ago
True! It's crazy how some digits appear more often.
JU
Juan
1 year ago
Yeah, Benford's Law analyzes the distribution of leading digits.
SU
Susana
1 year ago
I agree with Kiera, payment amounts have a wide range of values.
KI
Kiera
1 year ago
I think C) A listing of payment amounts is the best option.
ST
Stanton
1 year ago
C) A listing of payment amounts seems like the obvious choice here. Benford's Law is all about the distribution of leading digits in numerical data, and payment amounts definitely fit the bill.
JE
Jess
1 year ago
C) A listing of payment amounts
NI
Nida
1 year ago
B) Telephone numbers
RU
Ruth
1 year ago
A) Employee identification numbers