In this paper, we propose an analytical Markov chain model of the slotted carrier-sense multiple-access/collision-avoidance (CSMA/CA) protocol for IEEE 802.15.4 under unsaturated traffic conditions. Our proposed Markov chain model reflects the characteristics of the IEEE 802.15.4 medium-access control (MAC) protocol, such as a superframe structure, acknowledgements, and retransmissions with and without limit. We evaluate the throughput performance of the slotted CSMA/CA and verify the analytical model using simulation results.