JDCLittle is an accounting firm that divides its consultants into three classes: associates, managers, and partners. The firm has been stable in size for at least 20 years, and there have been, and are expected to be 100 associates, 60 managers, and 10 partners. The work environment at JDCLittle is quite competitive. After five years of working as an associate, a consultant goes either “up or out”; that is, becomes a manager or is dismissed from the company. Similarly, after six years a manager either becomes a partner or is dismissed. The firm recruits Marshall graduates as associate consultants; no hires are made at the manager or partner levels. A partner stays with the firm for another ten years (a total of 20 years).
a) How many graduates does JDCLittle hire every year?
b) How many associates are promoted to manager every year? How many are dismissed every year?
c) How many managers are promoted to partner every year? How many are dismissed?