The railroad in Problem 51 also has a fleet of tank cars. If 14% of the tank
Question:
The railroad in Problem 51 also has a fleet of tank cars. If 14% of the tank cars on the home tracks enter the national pool each month, and 26% of the tank cars in the national pool are returned to the home tracks each month, what percentage of its tank cars can the railroad expect to have on its home tracks in the long run?
Data in Problem 51
Most railroad cars are owned by individual railroad companies. When a car leaves its home railroad’s tracks, it becomes part of a national pool of cars and can be used by other railroads. The rules governing the use of these pooled cars are designed to eventually return the car to the home tracks. A particular railroad found that each month, 11% of its boxcars on the home tracks left to join the national pool, and 29% of its boxcars in the national pool were returned to the home tracks. If these percentages remain valid for a long period of time, what percentage of its boxcars can this railroad expect to have on its home tracks in the long run?
Step by Step Answer:
College Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780321945518
13th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen