Most railroad cars are owned by individual railroad companies. When a car leaves

Question

Most railroad cars are owned by individual railroad companies. When a car leaves its home railroad's trackage, it becomes part of a national pool of cars and can be used by other railroads. The rules governing the use of these pooled cars are designed to eventually return the car to the home trackage. A particular railroad found that each month 47% of its boxcars on the home trackage left to join the national pool and 74% of its boxcars in the national pool were returned to the home trackage. If these percentages remain valid for a long period of time, what percentage of its boxcars can this railroad expect to have on its home trackage in the long run?

Explanation / Answer

let the total number of cars owned by the railroad = 100

In one month if 47 cars depart, and 53 remain, then 0.74 * 47 ~ 35 cars are returned. 53 + 35 = 88 cars are home or 88% of the cars are home after 1 month

After 1 yr .8812 ~ 0.22% in the long run

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