Part-time students in a university MBA program are considered to be entry-level students until they complete 15

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Part-time students in a university MBA program are considered to be entry-level students until they complete 15 credits successfully. Then they are classified as advanced-level students and can take more advanced courses and work on the thesis required for graduation. Past records indicate that at the end of each year, 10% of the entry-level students (E) drop out of the program (D) and 30% become advanced-level students (A). Also, 10% of the advanced-level students drop out of the program and 40% graduate (G) each year. Students that graduate or drop out never return to the program.

(A) Draw a transition diagram. 

(B) Find the transition matrix P.

(C) What is the probability that an entry-level student graduates within 4 years? Drops out within 4 years?

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Finite Mathematics For Business Economics Life Sciences And Social Sciences

ISBN: 9780134862620

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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