A chain of travel agencies maintains a training program for new travel agents. Initially, all new employees

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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?

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

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

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