SOA Exam P Sample Question 26
Study guide: Exam P-1
A study of automobile accidents produced the following data:
| Model year | Proportion of all vehicles | Probability of involvement in an accident |
|---|---|---|
| 2014 | 0.16 | 0.05 |
| 2013 | 0.18 | 0.02 |
| 2012 | 0.20 | 0.03 |
| Other | 0.46 | 0.04 |
An automobile from one of the model years 2014, 2013, and 2012 was involved in an accident.
Calculate the probability that the model year of this automobile is 2014.
- A) 0.22
- B) 0.30
- C) 0.33
- D) 0.45
- E) 0.50
Answer this question and see the worked solution