Solution-How many customers company expect to have in each

How many customers company expect to have in each category

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Reference no: EM13960602

Please help with the following problem.

An auto insurance company classifies its customers in three categories: poor, satisfactory, and preferred. Each year, 30% of those in the poor category are moved to satisfactory and 5% of those in the satisfactory category are moved to preferred. Also, 5% 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 =
Satisfactory =
Preferred =

Reference no: EM13960602

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How many customers company expect to have in each category

Reference no: EM13960602

Reference no: EM13960602

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