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4.2.8 At the end of a month, a large retail store classifies each receivable account according to 0: Current 1: 30-60 days overdue 2: 60-90 days overdue 3: Over 90 days Each such account moves from state to state according to a Markov chain with transition probability matrix 0 1 2 3 0 0.95 0.05 0 0 1 0.50 0 0.50 0 P = 2 0.20 0 0 0.80 3 0.10 00 0.90 In the long run, what fraction of accounts are over 90 days overdue? 4.2.8 3 || 8 51.

4.2.8 At the end of a month, a large retail store classifies each receivable account according to 0: Current 1: 30-60 days overdue 2: 60-90 days overdue 3: Over 90 days Each such account moves from state to state according to a Markov chain with transition probability matrix 0 1 2 3 0 0.95 0.05 0 0 1 0.50 0 0.50 0 P = 2 0.20 0 0 0.80 3 0.10 00 0.90 In the long run, what fraction of accounts are over 90 days overdue? 4.2.8 3 || 8 51.

A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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4.2.8 At the end of a month, a large retail store classifies each receivable account according to 0: Current 1: 30-60 days overdue 2: 60-90 days overdue 3: Over 90 days Each such account moves from state to state according to a Markov chain with transition probability matrix 0 1 2 3 0 0.95 0.05 0 0 1 0.50 0 0.50 0 P = 2 0.20 0 0 0.80 3 0.10 00 0.90 In the long run, what fraction of accounts are over 90 days overdue?
Transcribed Image Text:4.2.8 At the end of a month, a large retail store classifies each receivable account according to 0: Current 1: 30-60 days overdue 2: 60-90 days overdue 3: Over 90 days Each such account moves from state to state according to a Markov chain with transition probability matrix 0 1 2 3 0 0.95 0.05 0 0 1 0.50 0 0.50 0 P = 2 0.20 0 0 0.80 3 0.10 00 0.90 In the long run, what fraction of accounts are over 90 days overdue?
4.2.8 3 || 8 51.
Transcribed Image Text:4.2.8 3 || 8 51.
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