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Benford's Law  anyone have their own examples? 
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#1
Dec1511, 01:07 AM

P: 55

http://en.wikipedia.org/wiki/Benford's_law
Anyone here have their own examples? I found it applies to the tonnage of steel beam produced where I am working.30% of the time the weight started with a one. 


#2
Jan412, 08:59 AM

P: 287

It's important to understand why Benford's works (because there are many causes where false positives and false negatives can occur). Basically you have to have a random process generating the numbers.
A simply accounting example that doesn't pass Benford yet is perfectly legitimate is an ensemble of cash flows resulting from a fixed contractual amount. It's also quite easy to fake a Benford distribution. 


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