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What fraction of the accounts are in each category

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Reference no: EM131754101

Question: At the end of a month, a large retail store classifies each of its customer's accounts according to current (0), 30-60 days overdue

(1) 60-90 days overdue

(2) more than 90 days

(3) Their experience indicates that the accounts move from state to state according to a Markov chain with transition probability matrix:

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In the long run what fraction of the accounts are in each category?

Reference no: EM131754101

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