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The market research department at a manufacturing plant determines that 30% of the people who purchase the plant's product during any month will not purchase it the next month. On the other hand, 40% of the people who do not purchase the product during any month will purchase it the next month. In a population of 1000 people, 100 people purchased the product this month. How many will purchase the product next month and in 2 months?

The market research department at a manufacturing plant determines that 30% of the people who purchase the plant's product during any month will not purchase it the next month. On the other hand, 40% of the people who do not purchase the product during any month will purchase it the next month. In a population of 1000 people, 100 people purchased the product this month. How many will purchase the product next month and in 2 months?

Elementary Linear Algebra (MindTap Course List)
Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.5: Markov Chain
Problem 11E: Purchase of a product The market research department at a manufacturing plant determines that 20 of...
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The market research department at a manufacturing plant determines that 30% of the people who purchase the plant's product during any month will not purchase it the next month. On the other hand, 40% of the people who do not purchase the product during any month will purchase it the next month. In a population of 1000 people, 100 people purchased the product this month. How many will purchase the product next month and in 2 months?

(a) next month
      _________     people

 

(b) in 2 months
      ________   people

 

 

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