The 2000 census reported that 66.4% of the households in Alaska were homeowners, and the remainder were
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The 2000 census reported that 66.4% of the households in Alaska were homeowners, and the remainder were renters. During the next decade, 37.2% of the homeowners became renters, and the rest continued to be homeowners. Similarly, 71.5% of the renters became homeowners, and the rest continued to rent.
(A) Write the appropriate transition matrix.
(B) According to this transition matrix, what percentage of households were homeowners in 2010?
(C) If the transition matrix remains the same, what percentage of households will be homeowners in 2030?
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College Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780321945518
13th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen
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