Once a year employees at a company are given the opportunity to join one of three pension plans, A, B, or C. Once an employee decides to join one of these plans, the employee cannot drop the plan or switch to another plan. Pastrecords indicate that each year 9% of the employees elect to join plan A, 7% elect to join plan B, 20% elect to join plan C, and the remainder to not join any plan. (1) In the long run, what percentage of employees will elect to join plans A,B, and C? (2) On average, how many years will it take an employee to decide to join a plan?(1) % of employees will elect to join plan A.(Type an integer or decimal. Round to the nearest tenth.)% of employees will elect to join plan B.(Type an integer or decimal. Round to the nearest tenth.)% of employees will elect to join plan C.(Type an integer or decimal. Round to the nearest tenth.)(2) It will take(Round to the nearest integer.)years, on average, for an employee to decide to join a plan.

Given - There are three pension plans. A, B and C 9% of the employees elect to join…

Answered: Once a year employees at a company are…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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