How many customers company expect to have in each category

Assignment Help Engineering Mathematics
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

Questions Cloud

Intended to merge the contribuation metals : Discuss how metals may have led a civilization to eminence or decline. This is a chemistry: Metals and civilization.
Is the larger sample changing anything : Is the larger sample changing anything? Is your mean increasing or decreasing? Do you think the current sample you have is enough to paint an accurate picture, or do you need a much larger sample?
Determine the radius of its orbit : An electron enters a uniform magnet field having a flux density 200uT at a speed of 2x10 6 ms-1 perpendicular to the field. Determine the radius of its orbit, then find the required electric field strength, applied perpendicular to the magnetic f..
Embark on an aggressive advertising campaign : Management in Pharmgen Corporation has come up with three possible decisions. The first one, the base case, is to leave things the way it is. The second one is to embark on an aggressive advertising campaign which would change the profit number in..
How many customers company expect to have in each category : 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?
What are the effects of abortions on health : Based on the article "What are the Effects of Abortions on Health and Victims of Crime among Women?" What is the Recruitment and informed consent process
Formulate the optimal solution : Can someone teach me how to formulate the Optimal solution for this problem without using Excel?
Is the following statement true cost allocation : Is the following statement true Cost allocation refers to the process of assigning direct costs? Discuss.
Chronological age and the developmental age of child : Make sure you tell us the chronological age and the developmental age of this child (remember, this will be different ages since the child will most likely have special needs)

Reviews

Write a Review

 

Engineering Mathematics Questions & Answers

  1bsp consider the sinusoidal signalxt 8 sin6pit

1.nbsp consider the sinusoidal signalxt 8 sin6pit phi0.assume phi0 pi4 for this question andnbspphi0 0 for the

  Accept the results better

Looking back at the data examples you have provided in the previous discussion questions on this issue, how might adding confidence intervals help managers accept the results better? Why?

  Concrete with an estimated value

An irrigation scheme is fed from a river via a diversion channel. The irrigation channel is 2 m wide and is constructed of concrete with an estimated value of 0.019 for the Manning n. The bed slope is 0.0025.

  Ab-am-predictor-corrector method

Compare the results of i) to the exact solution and comment on the accuracy of the numerical algorithm and adopted step size.

  On which day of the week were you born

What is the probability that the 13th of any month falls on a Friday? The answer is close to, but not exactly equal to, 1/7.

  Identify what makes flipping coin and keeping track of tails

Identify what makes flipping a coin and keeping track of tails a binomial experiment and please give one example of each, and describe how these examples differ from one another

  Compute terminal during the last week of the semester

During the last week of the semester , students at a certain college spends on the average 4.2 hours using the school's computer terminals with a standard deviation of 1.8 hours .for a random sampling of 36 students at that collage , find the aver..

  Determine the laplace transform of the function

Determine the Laplace transform of the function by writing the function in terms of Heaviside functions and the method of Laplace transforms to solve the initial value problem

  Observed differences over time are important

How can you or your department decide whether or not the observed differences over time are important? How could using a mean difference test help?

  Operation of simplistic electric train

The April 2015 stories at the main FCP site: (1) I spent many hours trying to work out the operation of this simplistic electric train that only recently appeared on YouTube:

  Definitions for the relative coordinate and reduced mass

What general conclusions can you reach about the relationship between the relative sizes of the two masses and the corresponding reduced mass?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd