Exaggerated piracy figures admitted

An article appearing on WSJ titled "Piracy Figures Restated" (subscription required) reports that:

In a 2005 study it commissioned, the Motion Picture Association of America claimed that 44% of the industry's domestic losses came from illegal downloading of movies by college students....
[...]
Now the MPAA, which represents the U.S. motion-picture industry, says "human error" in that survey caused it to get the number wrong. It now blames college students for about 15% of revenue loss.
[...]
He says 3% is a more reasonable estimate for the revenue at stake on campus networks.

Talk about exaggeration! 44% and 3% are poles apart. Even blind Freddy can tell of the such a huge discrepancy. Of course MPAA sits comfortably with using region locks etc schemes to prevent legitimate owner of their materials from playing in different region.