Under Benford's Law:
A) All numbers should occur as each other.
B) 1 should appear more than 2 and 3 should appear more than 4.
C) 9 should appear more than 8 and 7 should appear more than 6..
D) Vendor total amounts of sales by invoice should contain the same frequency of numbers as Customer totals.

Question

Quizplus · Accepted Answer

Benford's Law states that in naturally occurring datasets, the first digit is more likely to be smaller. Specifically, a 1 is expected to occur as the first digit about 30% of the time, while 2 is expected around 17.6%, and the occurrence of each subsequent digit decreases in a predictable pattern. Therefore, option B is the correct description of Benford's Law. The other options are not accurate or complete representations of the law.