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An auto insurance company classifies each motorist as "high risk" if the motorist has had at least one moving violation during the past calendar year and "low risk" if the motorist has had no violations during the past calendar year. According to the company's data, a high-risk motorist has a 50% chance of remaining in the high-risk category the next year and a 50% chance of moving to the low-risk category. A low-risk motorist has a 90% chance of moving to the high-risk category the next year and a 10% chance of remaining in the low-risk category. In the long term, what percentage of

An auto insurance company classifies each motorist as "high risk" if the motorist has had at least one moving violation during the past calendar year and "low risk" if the motorist has had no violations during the past calendar year. According to the company's data, a high-risk motorist has a 50% chance of remaining in the high-risk category the next year and a 50% chance of moving to the low-risk category. A low-risk motorist has a 90% chance of moving to the high-risk category the next year and a 10% chance of remaining in the low-risk category. In the long term, what percentage of

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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An auto insurance company classifies each motorist as "high risk" if the motorist has had at least one moving violation during the past calendar year and "low risk" if the motorist has had no violations during the past calendar year. According to the company's data, a high-risk motorist has a 50% chance of remaining in the high-risk category the next year and a 50% chance of moving to the low-risk category. A low-risk motorist has a 90% chance of moving to the high-risk category the next year and a 10% chance of remaining in the low-risk category. In the long term, what percentage of motorists fall in each category? (Round your answers to two decimal places.)
 
high-risk category%
 
low-risk category %
 
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