Which of the following is a reason why the size of the data set is important to apply Benford's Law?
A) Large data sets often have more irregularities than small data sets.
B) It is easier to test small data sets for frequencies of digits, both lower and higher.
C) It is more difficult to identify significant deviations from Benford's profile in small data sets.
D) The results of tests on large data sets are not as precise as the results of tests on small data sets.

Question

Quizplus · Accepted Answer

Benford's Law predicts a specific distribution of first digits in naturally occurring numerical data sets. However, small data sets may not conform to the expected distribution due to random variation, making it harder to identify significant deviations from the expected distribution. Therefore, a larger data set is preferred to ensure that results are statistically significant and representative of the population being studied.

Which of the Following Is a Reason Why the Size