An auto insurance company classifies its customers in three categories: poor, satisfactory, and preferred. Each year, 25% of those in the poor category are moved to satisfactory and 10% of those in the satisfactory category are moved to preferred. Also, 10% in the preferred category are moved to the satisfactory category, and 10% of those in the satisfactory category are moved to the poor category. Customers are never moved from poor to preferred, or conversely, in a single year. Assuming these percentages remain valid over a long period of time, how many customers can the company expect to have in each category in the long run? Poor =% (Round to the nearest tenth if necessary.)
An auto insurance company classifies its customers in three categories: poor, satisfactory, and preferred. Each year, 25% of those in the poor category are moved to satisfactory and 10% of those in the satisfactory category are moved to preferred. Also, 10% in the preferred category are moved to the satisfactory category, and 10% of those in the satisfactory category are moved to the poor category. Customers are never moved from poor to preferred, or conversely, in a single year. Assuming these percentages remain valid over a long period of time, how many customers can the company expect to have in each category in the long run? Poor =% (Round to the nearest tenth if necessary.)
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Transcribed Image Text:An auto insurance company classifies its customers in three categories: poor, satisfactory, and preferred. Each year,
25% of those in the poor category are moved to satisfactory and 10% of those in the satisfactory category are moved to
preferred. Also, 10% in the preferred category are moved to the satisfactory category, and 10% of those in the
satisfactory category are moved to the poor category. Customers are never moved from poor to preferred,
or conversely, in a single year. Assuming these percentages remain valid over a long period of time, how many
customers can the company expect to have in each category in the long run?
Poor =% (Round to the nearest tenth if necessary.)
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