Question

9. Essay; show all work. A community 5K run will award $50 to the winner. 70 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 1

essay?

Answer 2

yes it a essay for math

Answer 3

well if they all pay 20 dollars each then you would multiply by 70 ties 20 and you would get 140. so that means they paid 140 in all so if they when they should get moe than 50 dollars. it is likey that more than one person could win then race at thesame time. so all the people that come across the finish line would have to plit he whole 140.

Answer 4

\[70*20\neq140 :)\]

Answer 5

yea it does

Answer 6

does that sloves your problem and could you become my fan plz because i am a fan of yours

Answer 7

thank you :)

Answer 8

your welcome

Answer 9

No it doesn't. 70*20 = 1400.

The fair price would be: \[70x=50\]\[x=$0.71\]

Answer 10

that's what i got too 1400

Answer 11

The $1400 doesn't matter really.

The fair price (if I'm not mistaken) is the price you charge to break even for the competition (make $0 profit).

Answer 12

im so sorry bouot that i was writin to ast

Answer 13

fast

Answer 14

I figured :)

Answer 15

yup

Answer 16

the fair price for the competition would be $0.71 cent

Answer 17

yes

Answer 18

thank you guys

Answer 19

you're welcome :)

Answer 20

your welcome