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. Elec. Gas Oil Solar ElectricityNatural GasFuel OilSolar Energy0.600.050.1000.150.850.100.070.100.020.750.070.150.080.050.86Among 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.)

Let be the long term distribution This steady distribution must stay unchanged overtime…

Answered: A study conducted by the Urban Energy…

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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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.

Elec. Gas Oil Solar

Electricity

Natural Gas

Fuel Oil

Solar Energy

0.60

0.05

0.10

0.15

0.85

0.10

0.07

0.10

0.02

0.75

0.07

0.15

0.08

0.05

0.86

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.)

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