Question
In: Statistics and Probability
Problem 16-15 (Algorithmic) A large corporation collected data on the reasons both middle managers and senior...
-
Problem 16-15 (Algorithmic)
A large corporation collected data on the reasons both middle managers and senior managers leave the company. Some managers eventually retire, but others leave the company prior to retirement for personal reasons, including more attractive positions with other firms. Assume that the following matrix of one-year transition probabilities applies with the four states of the Markov process being retirement, leaves prior to retirement for personal reasons, stays as a middle manager, and stays as a senior manager.
Leaves- Middle Senior Retirement Personal Manager Manager Retirement 1.00 0.00 0.00 0.00 Leaves-Personal 0.00 1.00 0.00 0.00 Middle Manager 0.02 0.07 0.79 0.12 Senior Manager 0.08 0.01 0.04 0.87 - What states are considered absorbing states?
Why?
The input in the box below will not be graded, but may be reviewed and considered by your instructor.
- Interpret the transition probabilities for the middle
managers.
Probability of retirement =
Probability of leaving (personal) =
Probability of staying middle manager =
Probability of promotion to senior manager = - Interpret the transition probabilities for the senior
managers.
Probability of retirement =
Probability of leaving (personal) =
Probability of staying middle manager =
Probability of promotion to senior manager = - What percentage of the current middle managers will eventually
retire from the company? What percentage will leave the company for
personal reasons? If required, round your answers to one decimal
place.
Retire from the company = %
Leave the company for personal reasons = % - The company currently has 940 managers: 670 middle managers and
270 senior managers. How many of these managers will eventually
retire from the company? How many will leave the company for
personal reasons? If required, round your answers to one decimal
place.
Retire from the company = %
Leave the company for personal reasons = %
- What states are considered absorbing states?
Solutions
orchestra answered 1 year agoRelated Solutions
A large corporation collected data on the reasons both middle managers and senior managers leave the...
A large corporation collected data on the reasons both middle
managers and senior managers leave the company. Some managers
eventually retire, but others leave the company prior to retirement
for personal reasons, including more attractive positions with
other firms. Assume that the following matrix of one-year
transition probabilities applies with the four states of the Markov
process being retirement, leaves prior to retirement for personal
reasons, stays as a middle manager, and stays as a senior manager.
Leaves- Middle Senior...
A large corporation collected data on the reasons both middle managers and senior managers leave the...
A large corporation collected data on the reasons both middle
managers and senior managers leave the company. Some managers
eventually retire, but others leave the company prior to retirement
for personal reasons, including more attractive positions with
other firms. Assume that the following matrix of one-year
transition probabilities applies with the four states of the Markov
process being retirement, leaves prior to retirement for personal
reasons, stays as a middle manager, and stays as a senior
manager.
Leaves-
Middle
Senior...
Question 18 A large corporation collected data on the reasons both middle managers and senior managers...
Question 18
A large corporation
collected data on the reasons both middle managers and senior
managers leave the company. Some managers eventually retire, but
others leave the company prior to retirement for personal reasons
including more attractive positions with other firms. Assume that
the following matrix of one-year transition probabilities applies
with the four states of the Markov process being retirement, leaves
prior to retirement for personal reasons, stays as a middle
manager, and stays as a senior manager.
Leaves-...
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Problem 16-15 (Algorithmic)
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Problem 16-01 (Algorithmic)
The management of Brinkley Corporation is interested in using
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selling price for the product will be $45 per unit. Probability
distributions for the purchase cost, the labor cost, and the
transportation cost are estimated as follows:
Procurement
Cost ($)
Probability
Labor Cost ($)
Probability
Transportation
Cost ($)
Probability
10
0.35
20
0.2
3
0.72
11
0.25
23
0.25
5
0.28
13
0.4
24
0.35
26...
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Problem 15-07 (Algorithmic)
Refer to the gasoline sales time series data in the given
table.
Week
Sales (1000s of gallons)
1
18
2
21
3
18
4
24
5
18
6
15
7
21
8
19
9
22
10
21
11
15
12
23
Compute four-week and five-week moving averages for the time
series. Round your answers to two decimal places.
Week
Sales
4-Week
Moving Average
5-Week
Moving Average
1
18
2
21
3
18
4
24
5
18
6...
Problem 16-05 (Algorithmic) A major traffic problem in the Greater Cincinnati area involves traffic attempting to...
Problem 16-05 (Algorithmic)
A major traffic problem in the Greater Cincinnati area involves
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preceding period, is 0.9 and that the probability of finding a
traffic delay in one period, given a delay in the preceding period,
is 0.75. Traffic is classified as having either a delay or...
Problem 16-05 (Algorithmic) A major traffic problem in the Greater Cincinnati area involves traffic attempting to...
Problem 16-05 (Algorithmic)
A major traffic problem in the Greater Cincinnati area involves
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no traffic delay in one period, given no traffic delay in the
preceding period, is 0.8 and that the probability of finding a
traffic delay in one period, given a delay in the preceding period,
is 0.65. Traffic is classified as having either a delay or...
Problem 16-05 (Algorithmic) A major traffic problem in the Greater Cincinnati area involves traffic attempting to...
Problem 16-05 (Algorithmic)
A major traffic problem in the Greater Cincinnati area involves
traffic attempting to cross the Ohio River from Cincinnati to
Kentucky using Interstate 75. Let us assume that the probability of
no traffic delay in one period, given no traffic delay in the
preceding period, is 0.8 and that the probability of finding a
traffic delay in one period, given a delay in the preceding period,
is 0.65. Traffic is classified as having either a delay or...
Can all parts to this be answered using excel? Problem 16-11 (Algorithmic) In preparing for the...
Can all parts to this be answered using excel?
Problem 16-11 (Algorithmic)
In preparing for the upcoming holiday season, Fresh Toy Company
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