ESTIMATION OF MEAN TIME TO RECRUITMENT FOR A TWO GRADED MANPOWER SYSTEM WITH TWO THRESHOLDS, DIFFERENT EPOCH FOR EXITS AND CORRELATED INTER-DECISIONS UNDER CORRELATED WASTAGE
Keywords:
Two graded manpower system, decision and exit epochs, constantly correlated and exchangeable exponential random variable, ordinary renewal process, univariate policy of recruitment with two thresholds, mean time to recruitmentAbstract
In this paper, an organization with two grades, subjected to exit of personnel due to policy decisions taken by the organization is considered. As the exit of personnel is unpredictable a univariate recruitment policy involving two thresholds one is optional and other is mandatory is suggested to enable the organization to plan its decision on recruitment. Assuming that the policy decisions and exits occur at different epochs, a stochastic model is constructed and the mean time to recruitment is obtained when the loss of manpower at each decision epoch are identically distributed constantly correlated and exchangeable exponential random variables, thresholds follows independent and identically distributed exponential random variables , the inter-policy decision times are identically distributed constantly correlated and exchangeable exponential random variables and inter-exit times form an ordinary renewal process.
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