Benford’s Law

Benford’s Law

September 4th, 2008  |  Published in Statistics, Video/Audio

Benford’s Law roughly states that values of measurements in nature often have a logarithmic distribution. Which produces a counter-intuitive result that when applied to a wide variety of natural data sets, including stock prices and population numbers, etc. these things tend to follow that distribution.

In this video it give a rough explanation of how Benford’s Law can be used in Fraud Detection.

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