SOLUTION: Essay; show all work. A community 5K run will award $50 to the winner. 65 people enter the race, and they each pay an entry fee of $20. Assuming they are all equally likely to win,
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Question 364414: Essay; show all work. A community 5K run will award $50 to the winner. 65 people enter the race, and they each pay an entry fee of $20. Assuming they are all equally likely to win, what is a fair price for the competition? Round to the nearest cent.
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
65x=50
x=$.77 fair price for the competition.
.
Ed
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