Post a New Question


posted by .

A community 5K run will award $50 to the winner. 60 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.

  • Math -

    expected value= 50*1/60=50/60 is a fair price

Answer This Question

First Name
School Subject
Your Answer

Related Questions

More Related Questions

Post a New Question