Question

A financial company has 24000 employees . in 2008 the company retrenched 5% of their employees and 60.25% had a pay cut. and the rest were unaffected .find the number of employees that weee unaffected?

Answer 1

The number of employees that were unaffected is 8340.

Step-by-step explanation:

We are given that a financial company has 24000 employees. In 2008 the company retrenched 5% of their employees and 60.25% had a pay cut; and the rest were unaffected.

As we know that there are only three cases that are related to the employees; retrenched, had a pay cut, and were unaffected.

So, the probabilities of these three cases must be equal to 1, i.e;

Probability of employees retrenched + Probability of employees having a pay cut + Probability of employees that were unaffected = 1

5% + 60.25% + Probability of employees that were unaffected = 1

Probability of employees that were unaffected = 1 - 0.05 - 0.6025 = 0.3475 or 34.75%

Now, the total number of employees in a company = 24000

So, the number of employees that were unaffected = 34.75% of 24000

                             =  $\frac{34.75}{100}\times 24000$

                             =  $34.75 \times 240$ = 8340

Hence, the number of employees that were unaffected is 8340.