Suppose that, for a certain metropolitan area and the surrounding counties, during each 5-year period an average
Question:
where row 1 shows how the metropolitan population M changed (80% remained in M and 20% moved to S), and row 2 shows how the population of the surrounding counties changed. Currently the population is evenly divided between the two areas, which can be represented by the row matrix
P = [% in M % in S] = [50% 50%] = [0.5 0.5]
(a) Form the product PD and interpret its entries.
(b) Predictions of this population distribution after 10 years and after 15 years could be found from what matrix products?
(c) Suppose that at some future time, the populations reach the point where 60% live in the metropolitan area and 40% live in the surrounding counties. Find the predicted distribution 5 years later?
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds