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April 16, 2014

Homework Help: college math

Posted by bridgett on Sunday, October 23, 2011 at 5:18pm.

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

Can anyone help me get started on this one?

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