Final answer:
Benford's Law is an example of forensic analytics, used in areas like forensic accounting to detect anomalies that might suggest fraud. It predicts the frequency distribution of first digits in data sets, suggesting smaller digits appear more frequently as leading digits.
Step-by-step explanation:
Benford's Law would be an example of forensic analytics.
Benford's Law, also known as the First-Digit Law, is a statistical principle that predicts the frequency distribution of first digits in numerical data sets. This law states that in many naturally occurring collections of numbers, the leading digit is likely to be small. For example, the number 1 appears as the leading digit about 30% of the time, while larger numbers, such as 9, appear as the first digit less frequently. Benford's Law is often used in forensic accounting and auditing to detect anomalies or possible fraud. It assumes that in genuine datasets, the digits should conform to a certain distribution, and significant deviations from this expected distribution can signal potential irregularities.