1. Anne is a recent graduate who intends to take the CFA level 1 exam. According to the CFA Institute the global association of investment professionals that sets the standard for professional excellence and credentials, the passing rate was 43%. Let n = 11 2,3, . . . represent the number of times a person takes the CPA exams until the rst pass a ]| Write out the formula for the probabilil'qj.r function of the random variable 11. b ] 1What is the probability,r that ne passes the CFA exam on the second try,r [n = '2}? c ] 1What is the probability,r Anne needs three attempts to pass? d ] 1What is the Prbbit" she needs mere than three attempts to pas? e] 1What is the expected number of attempts at the EFF]. exam Anne must make for her rst pas? (Hint: Use p. for the geometric distribution and Bound]