SOLUTION: The chartered financial analyst (CFA) is a designation earned after taking three annual exams (CFA I,II, and III). The exams are taken in early June. Candidates who pass an exam ar

Question 1168711: The chartered financial analyst (CFA) is a designation earned after taking three annual exams (CFA I,II, and III). The exams are taken in early June. Candidates who pass an exam are eligible to take the exam for the next level in the following year. The pass rates for levels I, II, and III are 0.53, 0.78, and 0.85, respectively. Suppose that 3,000 candidates take the level I exam, 2,500 take the level II exam and 2,000 take the level III exam. A randomly selected candidate who took a CFA exam tells you that he has passed the exam. What is the probability that he took the CFA I exam?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
=======L1=======L2=======L3====Total
Pass---1590------1950--------1700-----5240
Fail----1410-------550---------300-----2260
Total--3000------2500--------2000----7500
5240 passed an exam
1940 passed the Level 1 exam
The answer is 30.3%.
RELATED QUESTIONS
The chartered financial analyst (CFA) is a designation earned after taking three annual... (answered by Glaviolette)

The chartered financial analyst (CFA) is a designation earned after taking three annual... (answered by ikleyn)

The Chartered Financial Analyst (CFA) designation is fast becoming a requirement for... (answered by Boreal)

After 3 exams, Sam has a mean score of 75 marks. (i) What is Sam’s total score for the (answered by Solver92311)

Joe has scored 87, 92, and 82 on his first three exams in his math class. If the standard (answered by solver91311)

2) Devin has scored 73, 90, and 84 on the first three exams in his math class. If the... (answered by jorel555)

Steve averaged 70 in his first m number of exams. After taking n more exams, he had an... (answered by Theo)

Anita earned a 74, 86, and 83 on her first three biology exams. What is the minimum score (answered by rfer)

a student scores 82%,86% and 78% on her three exams. What score is needed on the fourth... (answered by ewatrrr,Aaniya)