Conditional Probability: Acturary Exam P

ByCL

Conditional Probability measures the likelihood (probability) of one event given that another event has occurred.  It’s useful in many fields, including finance, healthcare, and politics. Here, we look at some examples from the Acturary Probability Exam Sample Questions. The first step is always to read the question and figure out “what is given” and “what is…

Inclusion-Exclusion Principle: Actuary Exam P

ByCL

The Inclusion-Exclusion Principle is a counting technique in Probability and Combinatorics. The idea is simple, yet it always feels more difficult when solving problems. However, It does not have to be difficult. We use sample questions for Exam P from the Society of Acturaries to illustrate how we can break things down and how it…