An auto insurance company classifies its customers in three categories: poor, satisfactory, and preferred. Each year, satisfactory and 15% of those in the satisfactory category are moved to preferred. Also, 15% in the preferred category are moved to the satisfactory category, and 15% of those in the satisfactory category are moved to the poor category. Customers are never moved from poor to preferred, or conversely, in a single year. Assuming these percentages remain valid over a long period of time, how many customers can the company expect to have in each category in the long run? Poor = % (Round to the nearest tenth if necessary.)

An auto insurance company classifies its customers in three categories: poor, satisfactory, and preferred. Each year, satisfactory and 15% of those in the satisfactory category are moved to preferred. Also, 15% in the preferred category are moved to the satisfactory category, and 15% of those in the satisfactory category are moved to the poor category. Customers are never moved from poor to preferred, or conversely, in a single year. Assuming these percentages remain valid over a long period of time, how many customers can the company expect to have in each category in the long run? Poor = % (Round to the nearest tenth if necessary.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.6: Summarizing Categorical Data

Problem 28PPS

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