Answer to Question #124285 in Economics for Richard

Question

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?

Answer 1

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%.