Benford's Law

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August 31, 2024 4 min read Definitions

Benford's Law: Understanding the Frequency Pattern of Leading Digits

Mathematics Statistics Benford's Law Statistics Data Analysis Fraud Detection Forensic Accounting

Benford's Law, also known as the First Digit Law, describes the expected frequency pattern of the leading digits in real-life data sets, revealing that lower digits occur more frequently than higher ones. This phenomenon is used in fields like forensic accounting and fraud detection.

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