A chain of travel agencies maintains a training program for new travel agents. Initially, all new employees
Question:
A chain of travel agencies maintains a training program for new travel agents. Initially, all new employees are classified as beginning agents requiring extensive supervision. Every 6 months, the performance of each agent is reviewed. Past records indicate that after each semiannual review, 40% of the beginning agents are promoted to intermediate agents requiring only minimal supervision, 10% are terminated for unsatisfactory performance, and the remainder continue as beginning agents. Furthermore, 30% of the intermediate agents are promoted to qualified travel agents requiring no supervision, 10% are terminated for unsatisfactory performance, and the remainder continue as intermediate agents.
(A) Draw a transition diagram.
(B) Write the transition matrix.
(C) What is the probability that a beginning agent is promoted to qualified agent within 1 year? Within 2 years?
Step by Step Answer:
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker