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%.
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