The Following Diagram Shows the Movement of U $a = 26.5 \%$

question 5

Essay

The following diagram shows the movement of U.S. households among three income groups - affluent, middle class, and poor - over the 11-year period 1982-1993.
? $a = 26.5 \%$ , $b = 7.8 \%$ , $c = 31.2 \%$ , $d = 8.1 \%$ ?
Use the transitions shown in the diagram to construct a transition matrix (assuming zero probabilities for the transitions between affluent and poor).

Take 1 = Affluent, 2 = Middle class, 3 = Poor.

Assuming that the trend shown was to continue, what percent of households classified as affluent in 1982 were predicted to become poor in 2004 (Give your answer to the nearest 0.1%.)

The answer is __________%

According to the model, what percentage of all U.S. households will be in each income bracket in the long term (Give your answers to the nearest 0.1 percent.)

Percent of affluent is __________%

Percent of middle class is __________%

Percent of poor is __________%

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Definitions:

Rock Types

Categories into which rocks are classified based on their formation process, including igneous, sedimentary, and metamorphic rocks.

Pluton

A pluton is a body of intrusive igneous rock that crystallized from magma slowly cooling below the surface of the Earth, often forming the core of mountains.

Sedimentary Unit

A layer of sedimentary rock with distinct physical, chemical, or biological characteristics that distinguish it from adjacent layers.

Overlapping

The placement of objects over one another, often used to describe geological layers that cover part of each other.