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

Answer rating: 100% (QA)

To complete the forecasted availabilities for the next year we need to use the transition probabilit... View the full answer