What is a fair price for the competition
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.
Now Priced at $5 (50% Discount)
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Shannon Company is planning to produce 2,000 units of product in 2014. Each unit requires 3 pounds of materials at $5 per pound and a half-hour of labor at $15 per hour. The overhead rate is 70% of direct labor.What are the potential advantages to
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.
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