The salary scale at Midbank has only two different levels. On average, an employee Spends 2 years at level 1 before he or she moves to level two or leaves the bank. For employees at level two, the maximum period they spend before leaving averages 5 yea rs. Nobody is demoted, and promotion can occur at any time. Upon leaving level 1, the probability that an employee moves to level 2 is 0.40. I. What is the state Space and time step for this process? N. Is the process Markov? Explain your answer. III. Draw the transition diagram. IV. Estimate the transition rates. V. Write down the generator matrix for the process