Step 1: Understanding the Concept:
This question deals with complementary events in probability. \(E'\) (or \(\bar{E}\)) represents the complement of event E, meaning the event that E does not occur. The sum of the probabilities of an event and its complement is always 1.
Step 2: Key Formula or Approach:
The formula for the probability of a complementary event is:
\[ P(E') = 1 - P(E) \]
Step 3: Detailed Explanation:
We are given the probability of event E:
\[ P(E) = 0.02 \]
Using the formula, we can find the probability of its complement, \(E'\):
\[ P(E') = 1 - 0.02 \]
\[ P(E') = 0.98 \]
Step 4: Final Answer:
The value of \(P(E')\) is 0.98.