That's basically right. I'd make it a bit more precise by noting that the anchor in the boat displaces a volume of water whose weight is equal to the anchor's weight (Archimedes' Principle); call this V_1. When in the water, the anchor simply displaces a volume of water equal to its own volume; call this V_2. Since the anchor is denser than water, V_1 > V_2, so the level of the lake goes down when the anchor gets thrown in the water.
Also, you need to replace "it's" with "its" in your solution. (In 2005, I edited the Definitive and Extended Edition of The Feynman Lectures on Physics for physics content and for spelling/grammar. Could you tell? :-)