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Transitional Probability Matrices
In mathematics and statistics, these matrices are used to describe the probabilities of transitioning from one state to another in a stochastic (random) process.
Markov Analysis
A statistical method used to predict future states based on current data and the probabilities of various outcomes, often applied in decision-making processes.
HR Objectives
The strategic goals set by the Human Resources department to support overall organizational growth, employee development, and operational efficiency.
Human Resource Planning Process
A strategic approach undertaken by HR management to ensure the right number of people with the right skills are available at the right time in the organization.
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