Starting in 2010, on the heels of the 2007-2009 subprime mortgage crisis, the Un

Question

Starting in 2010, on the heels of the 2007-2009 subprime mortgage crisis, the United States saw an epidemic of mortgage foreclosures, often initiated improperly by large financial institutions. This question is based on the following table, which shows the numbers of foreclosures in three states during three months of 2011 California 54,100 56.200 59,400 Florida 23,800 22.400 23,600 Texas 9,300 10600 10,100 Your law firm handled 20% of all foreclosures in each state in June, 40% of all foreclosures in July, and 10% of all foreclosures in August 2011, Use matrix multiplication to compute the total number of foreclosures handled by your firm in each of the states shown. Need Help?Rs Show My Work (Optional) The following table gives the number of people (in thousands) who visited Australia and South Africa in 1998 To Australia South North America 440 Eurepe 950 Asia 1,790 You estimate that 5% of all visitors to Australia and 4% of all visitors to South Africa decide to settle there permanently. Take A to be the 32 matrix whose entries are the 1998 tourism figures in the above table and take Compute the products AB and AC. AB

Explanation / Answer

Answer 1:

Given matrix, M (3x3) =

Matrix of percentages (3x1) , P =

M x P (3x3)(3x1) = (3x1)

Answer 2:

A (3 x 2) =

B (2 x 1) =

C (2 x 2) =

To compute AB, the order will be (3x2) X (2x1) = (3x1)

AB =

AC = (3x2)(2x2) = (3x2)

54100 56200 59400 23800 22400 23600 9300 10600 10100

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