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4.2.8 At the end of a month, a large retail store classifies each receivable account according to 0: Current 1: 30-60 days overdue 2: 60-90 days overdue 3: Over 90 days Each such account moves from state to state according to a Markov chain with transition probability matrix 0 1 2 3 0 0.95 0.05 0 0 1 0.50 0 0.50 0 P = 2 0.20 0 0 0.80 3 0.10 00 0.90 In the long run, what fraction of accounts are over 90 days overdue? 4.2.8 3 || 8 51.

4.2.8 At the end of a month, a large retail store classifies each receivable account according to 0: Current 1: 30-60 days overdue 2: 60-90 days overdue 3: Over 90 days Each such account moves from state to state according to a Markov chain with transition probability matrix 0 1 2 3 0 0.95 0.05 0 0 1 0.50 0 0.50 0 P = 2 0.20 0 0 0.80 3 0.10 00 0.90 In the long run, what fraction of accounts are over 90 days overdue? 4.2.8 3 || 8 51.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter5: Linear Inequalities
Section5.2: Solving Inequalities By Multiplication And Division
Problem 3AGP
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4.2.8 At the end of a month, a large retail store classifies each receivable account according to 0: Current 1: 30-60 days overdue 2: 60-90 days overdue 3: Over 90 days Each such account moves from state to state according to a Markov chain with transition probability matrix 0 1 2 3 0 0.95 0.05 0 0 1 0.50 0 0.50 0 P = 2 0.20 0 0 0.80 3 0.10 00 0.90 In the long run, what fraction of accounts are over 90 days overdue?
Transcribed Image Text:4.2.8 At the end of a month, a large retail store classifies each receivable account according to 0: Current 1: 30-60 days overdue 2: 60-90 days overdue 3: Over 90 days Each such account moves from state to state according to a Markov chain with transition probability matrix 0 1 2 3 0 0.95 0.05 0 0 1 0.50 0 0.50 0 P = 2 0.20 0 0 0.80 3 0.10 00 0.90 In the long run, what fraction of accounts are over 90 days overdue?
4.2.8 3 || 8 51.
Transcribed Image Text:4.2.8 3 || 8 51.
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