Provide an appropriate response.The probability that a car owner will become a car renter in five years is 0.03. The probability that a renter will become an owner in five years is 0.1. Suppose the proportions in the population are 64% owners (O), 35.5% renters (R) and .5% neither (N) with the following transition matrix. O R N 
Find the long-range probabilities for the three categories.
A. [0.94 0.06 0]
B. [0.94 0.879 0.001]
C. [0.666 0.333 0.001]
D. [0.64 0.355 0.005]
Answer: C
Mathematics
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