Cathy is planning to take the Certified Public Accountant Examination (CPA exam). Records kept by the...
Cathy is planning to take the Certified Public Accountant Examination (CPA exam). Records kept by the college of business from which she graduated indicate that 83% of students who graduated pass the CPA exam. Assume that the exam is changed each time it is given. Let n = 1, 2, 3, ... represent the number of times a person takes the CPA exam until the first pass. (Assume the trials are independent.)
(a) What is the probability that Cathy passes the CPA on the
first try? (Use 2 decimal places.)
(b) What is the probability that Cathy passes the CPA exam on the
second or third try? (Use 4 decimal places.)
Homework Answers
a)
probability that Cathy passes the CPA on the first try =0.83
b)
probability that Cathy passes the CPA exam on the second or third try
=P(fail on first and pass on 2nd)+P(fail on first two and pass on 3rdd)
=(1-0.83)*0.83+(1-0.83)2*0.83 =0.1651
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