In a community of 100,000 adults, subscribers to a concert series tend to renew their subscription with
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In a community of 100,000 adults, subscribers to a concert series tend to renew their subscription with probability 90% and persons presently not subscribing will subscribe for the next season with probability 0.2%. If the present number of subscribers is 1200, can one predict an increase, decrease, or no change over each of the next three seasons?
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The matrix of the transition probabilities is The ...View the full answer
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Priya Anekar
PROFESSIONAL TUTOR College graduate with a major in Economic major and a minor in mathematics seeking a position as a professional tutor at school level, or for an independent tutoring business.
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