A study conducted by the Urban Energy Commission in a large metropolitan area indicates the probabilities that homeowners within the area will use certain heating fuels or solar energy during the next 10 years as the major source of heat for their homes. The following transition matrix represents the transition probabilities from one state to another. Electricity Natural Gas Fuel Oil Solar Energy Elec. Gas Oil Solar 0.60 0.05 0.10 0 0.15 0.85 0.10 0.08 0.10 0.02 0.75 0.08 0.15 0.08 0.05 0.84 Among homeowners within the area, 20% currently use electricity, 35% use natural gas, 40% use oil, and 5% use solar energy as the major source of heat for their homes. In the long run, what percentage of homeowners within the area will be using solar energy as their major source of heating fuel? (Round your answer to one decimal place. Assume the trend continues.) 10.2 X %

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A study conducted by the Urban Energy Commission in a large metropolitan area indicates the probabilities that homeowners within the area will use certain heating fuels or solar energy during
the next 10 years as the major source of heat for their homes. The following transition matrix represents the transition probabilities from one state to another.
Electricity
10.2
Natural Gas
Fuel Oil
Solar Energy
Elec. Gas
Oil
0.60 0.05 0.10
0.15 0.85 0.10 0.08
Solar
0
0.10 0.02 0.75 0.08
0.15 0.08 0.05 0.84
Among homeowners within the area, 20% currently use electricity, 35% use natural gas, 40% use oil, and 5% use solar energy as the major source of heat for their homes. In the long run,
percentage of homeowners within the area will be using solar energy as their major source of heating fuel? (Round your answer to one decimal place. Assume the trend continues.)
X %
what
Transcribed Image Text:A study conducted by the Urban Energy Commission in a large metropolitan area indicates the probabilities that homeowners within the area will use certain heating fuels or solar energy during the next 10 years as the major source of heat for their homes. The following transition matrix represents the transition probabilities from one state to another. Electricity 10.2 Natural Gas Fuel Oil Solar Energy Elec. Gas Oil 0.60 0.05 0.10 0.15 0.85 0.10 0.08 Solar 0 0.10 0.02 0.75 0.08 0.15 0.08 0.05 0.84 Among homeowners within the area, 20% currently use electricity, 35% use natural gas, 40% use oil, and 5% use solar energy as the major source of heat for their homes. In the long run, percentage of homeowners within the area will be using solar energy as their major source of heating fuel? (Round your answer to one decimal place. Assume the trend continues.) X % what
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