Asked by kozy

Essay; show all work. A community 5K run will award $50 to the winner. 35 people enter the race, and they each pay an entry fee of $20. Assuming they are all equally likely to win, what is a fair price for the competition? Round to the nearest cent
Answered by BGNP
45*20=900 (900-50)/45=18.88 Fair price
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