Question: Complete the highlighted areas in the Markov analysis below to forecast availabilities for the next year, by job category. The notes below the table will

Complete the highlighted areas in the Markov analysis below to forecast availabilities for the next year, by job category. The notes below the table will assist you in doing this.

Transition Probability Matrix

3-Year Trend

FTSA

PTSA

ADM

DM

Exit

(1) Full-time sales associate (FTSA)

0.50

0.15

0.05

0.00

0.30

(2) Part-time sales associate (PTSA)

0.30

0.50

0.02

0.00

0.18

(3) Assistant department manager (ADM)

0.05

0.00

0.75

0.14

0.06

(4) Department manager (DM)

0.00

0.00

0.00

0.65

0.35

Forecast of Availabilities

Next Year (projected)

FTSA

PTSA

ADM

DM

Exit

Current Workforce

(1) Full-time sales associate (FTSA)

15,120

7,560

2,268

0

(2) Part-time sales associate (PTSA)

3,780

1,134

76

0

(3) Assistant department manager (ADM)

3,780

189

0

530

(4) Department manager (DM)

1,210

0

0

0

Forecasted Availabilities by Job

8,883

3,667

5,868

Note: The information below shows the calculations behind the numbers in several of the already completed cells of the Markov analysis. Similar calculations will allow you to complete the table.

7,560 =

0.50 × 15,120

Number of current FTSA expected to remain as FTSA

2,268 =

0.15 x 15,120

Number of current FTSA expected to transition to PTSA

1,134 =

0.30 × 3,780

Number of current PTSA expected to transition to FTSA

189 =

0.05 × 3,780

Number of current ADM expected to transition to FTSA

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