An auto insurance company classifies each motorist as "high risk" if the motorist has had at least one moving violation during the past calendar year and "low risk" if the motorist has had no violations during the past calendar year. According to the company's data, a high-risk motorist has a 50% chance of remaining in the high-risk category the next year and a 50% chance of moving to the low-risk category. A low-risk motorist has a 90% chance of moving to the high-risk category the next year and a 10% chance of remaining in the low-risk category. In the long term, what percentage of motorists fall in each category? (Round your answers to two decimal places.) high-risk category low-risk category %

An auto insurance company classifies each motorist as "high risk" if the motorist has had at least one moving violation during the past calendar year and "low risk" if the motorist has had no violations during the past calendar year. According to the company's data, a high-risk motorist has a 50% chance of remaining in the high-risk category the next year and a 50% chance of moving to the low-risk category. A low-risk motorist has a 90% chance of moving to the high-risk category the next year and a 10% chance of remaining in the low-risk category. In the long term, what percentage of motorists fall in each category? (Round your answers to two decimal places.) high-risk category low-risk category %

Name: An auto insurance company classifies each motorist as "high risk" if
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Description: An auto insurance company classifies each motorist as "high risk" if the motorist has had at least one moving violation during the past calendaryear and "low risk" if the motorist has had no violations during the past calendar year. According to the

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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