Rent-To-Keep rents household furnishings by the month. At the end of a rental month a customer can: a) rent the item for another month, b) buy the item, or c) return the item. The matrix below describes the month-to-month transition probabilities for 32-inch stereo televisions the shop stocks.
What is the probability that a customer who rented a TV this month will eventually buy it?

Question

Rent-To-Keep rents household furnishings by the month. At the end of a rental month a customer can: a) rent the item for another month, b) buy the item, or c) return the item. The matrix below describes the month-to-month transition probabilities for 32-inch stereo televisions the shop stocks.
  What is the probability that a customer who rented a TV this month will eventually buy it?

Quizplus · Accepted Answer

The Answer of Rent-To-Keep rents household furnishings by the month. At the end of a rental month a customer can: a) rent the item for another month, b) buy the item, or c) return the item. The matrix below describes the month-to-month transition probabilities for 32-inch stereo televisions the shop stocks.
  What is the probability that a customer who rented a TV this month will eventually buy it?

Rent-To-Keep Rents Household Furnishings by the Month