Document Type
Paper
Publication Date
Fall 2023
Abstract
In this paper, we introduce the concept of Benford’s Law, which is the mathematical observation that in many naturally occurring numerical datasets, the leading digits are not evenly distributed. We actually find that smaller leading digits appear more often than larger ones. We will explore when and why this phenomenon occurs and how we can use statistical tests to determine how well a dataset conforms to Benford’s Law. We will also see how Benford’s Law can be used by auditors in the accounting field to catch potential fraud.
Recommended Citation
Wilson, Lucy, "Benford’s Law and its Applications to Accounting" (2023). Mathematics Student Projects. 5.
https://pillars.taylor.edu/mathstudentscholarship/5
Notes
Course: MAT 392, Mathematics Seminar (Dr. Jeremy Case)