{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

# sol1 - MAT 2342 Assignment 1 Solutions Problem 1 In a big...

This preview shows pages 1–2. Sign up to view the full content.

MAT 2342 Assignment 1 Solutions Problem 1. In a big city with a population of 1 million people, there are three telephone companies A, B and C, providing phone services to citizens. To determine how loyal customers are to their phone company, a survey has been conducted. The results of the survey are as follows: 80% of the customers who have a contract with company A stay with company A the next year; 10% switch to company B and 10% switch to company C. Similarly, 80% of the customers who have a contract with company B stay with com- pany B the next year; 10% switch to company A and 10% switch to company C. 60% of the customers who have a contract with company C stay with company C the next year; 20% switch to company A and 20% switch to company B. Currently, 350,000 people have a contract with company A, 400,000 people have a contract with company B and 250,000 have a contract with company C. In the questions below you may assume that all people have a contract with one of the three companies at any time, and that no person has a contract with more than one company at the same time. 1. [2 pts.] Mr. X currently has a contract with company C. How likely is it that he is a customer of company B two years from now? 2. [2 pts.] Predict how many people will have a contract with company B two years from now.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}