SOLUTION: Hello, Can someone please check my answer. Thank you.
Essay; show all work. A community 5K run will award $50 to the winner. 80 people enter the race, and they each pay an entry
Algebra ->
Probability-and-statistics
-> SOLUTION: Hello, Can someone please check my answer. Thank you.
Essay; show all work. A community 5K run will award $50 to the winner. 80 people enter the race, and they each pay an entry
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Question 362939: Hello, Can someone please check my answer. Thank you.
Essay; show all work. A community 5K run will award $50 to the winner. 80 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.
E = 50
E = 50-20 = 30
Fair price for the competition
To make the game "fair", the community should only
charge $2.67 to play the game.
