Answer to Question #124285 in Economics for Richard

Question #124285

A firm employing 100 workers has an average absenteeism rate of 4%. On a given day, what is the probability of no workers being absent?

Expert's answer

If a firm employing 100 workers has an average absenteeism rate of 4%, then the probability of no workers being absent is:

P = 1 - 0.04 = 0.96 or 96%.

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