Mt. Kinley is a strategy consulting firm that divides its consultants into three classes: Associates, Managers, and Partners. The firm has been stable in size for the last 20 years. Specifically, there have been – and are expected to be – 200 Associates, 60 Managers, and 20 Partners.

The work environment at Mt. Kinley is rather 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 another five years, a manger either becomes a partner or is dismissed. The company recruits MBAs as associate consultants; no hires are made at the manager or partner level. A partner stays with the company for another 10 years (a total of 20 years with the company).

Required:
a. How many new MBA graduates does Mt. Kinley have to hire every year?
b. What are the odds that a new hire at Mt. Kinley will become partner (as opposed to being dismissed after 5 years or 10 years)?