motor insurance company puts policy holders into three categories: no discount on premiums (state 1) 25% discount on premiums (state 2) 50% discount on premiums (state 3) How many years does it take to get 50% discount? Solution:

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.CR: Review Problem Set
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car insurance: how many years does it take to get 50% discount .

plz solve it by Markov Chain

 

p(car ins.)=1/4.
Question1: A motor insurance company puts policy holders into three categories:
no discount on premiums (state 1)
25% discount on premiums (state 2)
50% discount on premiums (state 3)
How many years does it take to get 50% discount?
Solution:
3.
Transcribed Image Text:Question1: A motor insurance company puts policy holders into three categories: no discount on premiums (state 1) 25% discount on premiums (state 2) 50% discount on premiums (state 3) How many years does it take to get 50% discount? Solution: 3.
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