benford's law Synonyms
No Synonyms and anytonyms found
benford's law Meaning
benford's law (n)
a law used by auditors to identify fictitious populations of numbers; applies to any population of numbers derived from other numbers
benford's law Sentence Examples
- Benford's Law states that the leading digit of many real-life data sets follows a specific distribution.
- The first digit of numbers in Benford's Law distribution is more likely to be smaller than in a uniform distribution.
- Benford's Law has applications in forensic accounting, detecting fraudulent data, and analyzing financial records.
- The distribution of leading digits predicted by Benford's Law holds true for a wide range of data sets, including population statistics, stock prices, and scientific measurements.
- Benford's Law can help identify anomalies in data and uncover potential errors or biases.
- The mathematical basis of Benford's Law lies in the concept of multiplicative processes and the central limit theorem.
- Benford's Law has been used to detect embezzlement, tax evasion, and other financial crimes.
- The accuracy of Benford's Law distribution decreases as the sample size gets smaller.
- Extensions of Benford's Law have been developed to analyze the distribution of multiple leading digits.
- Benford's Law provides a unique insight into the underlying patterns and properties of real-world data.
FAQs About the word benford's law
a law used by auditors to identify fictitious populations of numbers; applies to any population of numbers derived from other numbers
No synonyms found.
No antonyms found.
Benford's Law states that the leading digit of many real-life data sets follows a specific distribution.
The first digit of numbers in Benford's Law distribution is more likely to be smaller than in a uniform distribution.
Benford's Law has applications in forensic accounting, detecting fraudulent data, and analyzing financial records.
The distribution of leading digits predicted by Benford's Law holds true for a wide range of data sets, including population statistics, stock prices, and scientific measurements.
