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Answer to Question #72056 in Other Economics for Marvin Abban

Question #72056
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 on a given day the probability of no workers being absent is p = 1 - 0.04 = 0.96 or 96%.

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