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COMPARISON OF SEMI‐MARKOV AND MARKOV MODELS IN A PERSONNEL FORECASTING APPLICATION
Author(s) -
Valliant Richard,
Milkovich George
Publication year - 1977
Publication title -
decision sciences
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.238
H-Index - 108
eISSN - 1540-5915
pISSN - 0011-7315
DOI - 10.1111/j.1540-5915.1977.tb01095.x
Subject(s) - markov model , markov chain , computer science , markov process , econometrics , simple (philosophy) , operations research , variable order markov model , machine learning , statistics , economics , mathematics , philosophy , epistemology
This paper reports an exploratory study of the development, application, and evaluation of a semi‐Markov model which forecasts personnel mobility rates within a major employer. The accuracy of the model is investigated by comparing the results generated by it to the results from a simple Markov model and to the observed behavior within the organization.