A study shows the following one generation transition probabilities among four major income groups Eldest Son s Income 10 50 0

Question

A study shows the following one generation transition probabilities among four major income groups Eldest Son s Income 10 50 0 35 0 5 0 33 0 1 Father s Income Bottom 10 10 50 50 90 Top 10 Bottom 10 0 47 0 07 0 05 0 01 50 90 0 17 0 39 0 48 0 32 Top 10 0 01 0 04 0 14 0 57 In the long term what percentage of male earners would you expect to find in each category Round your answers to two decimal plac bottom 10 10 50 50 90 top 10

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