A mail-order company classifies its customers as preferred, standard, or infrequent depending on the number of orders placed in a year. Past records indicate that each year, 5 % of preferred customers are reclassified as standard and 12 % as infrequent, 5 % of standard customers are reclassified as preferred and 5 % as infrequent, and 9 % of infrequent customers are reclassified as preferred and 10 % as standard. Assuming that these percentages remain valid, what percentage of customers are expected to be in each category in the long run?
A mail-order company classifies its customers as preferred, standard, or infrequent depending on the number of orders placed in a year. Past records indicate that each year, 5 % of preferred customers are reclassified as standard and 12 % as infrequent, 5 % of standard customers are reclassified as preferred and 5 % as infrequent, and 9 % of infrequent customers are reclassified as preferred and 10 % as standard. Assuming that these percentages remain valid, what percentage of customers are expected to be in each category in the long run?
A mail-order company classifies its customers as preferred, standard, or infrequent depending on the number of orders placed in a year. Past records indicate that each year,
5
%
of preferred customers are reclassified as standard and
12
%
as infrequent,
5
%
of standard customers are reclassified as preferred and
5
%
as infrequent, and
9
%
of infrequent customers are reclassified as preferred and
10
%
as standard. Assuming that these percentages remain valid, what percentage of customers are expected to be in each category in the long run?
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