Markov Chains and Manpower Forecasts.
MINNESOTA UNIV MINNEAPOLIS CENTER FOR THE STUDY OF ORGANIZATIONAL PERFORMANCE AND HUMAN EFFECTIVENESS
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The report describes investigations into the applicability of the Markovian process model in manpower management. The descriptive and predictive usefulness of the model was empirically investigated by applying the model to ten years of manpower data. Included are investigations into the stability of the transitional probabilities and the related implications for forecasting accuracy. The relevance of the application is assessed against two general criteria Does the model provide analytical insights useful in the description and understanding of manpower processes, and does the model provide accurate forecasts of future distribution of manpower resources. Author
- Personnel Management and Labor Relations