Travel agent training. 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?
Travel agent training. 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?
Solution Summary: The author illustrates the transition diagram when a travel agency's semiannual review indicates that 40% of the beginning agents are promoted to intermediate agents, 102% are terminated for unsatisfactory performance
Travel agent training. 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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Chapter 9 Solutions
Finite Mathematics for Business, Economics, Life Sciences and Social Sciences Plus NEW MyLab Math with Pearson eText -- Access Card Package (13th Edition)
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