SOA Exam P Sample Question 423
Study guide: Exam P-1
A survey was conducted within the population of those who claim to have contributed to charity during the previous year. Results indicate that 70% of this population claimed to have contributed at least 1000, 50% overstated the value of their contributions, and 45% did both.
Assume that the survey accurately represents the population.
Calculate the probability that a randomly selected person overstated the value of his contribution, given that they claimed to have contributed less than 1000.
- A)
1/20 - B)
1/10 - C)
1/6 - D)
3/4 - E)
5/6
Answer this question and see the worked solution