Final answer:
The number of different ways to select the top three prize winners from a group of 8 people, with no ties, is calculated using permutations. For 8 people taken 3 at a time, the permutation formula gives us 8! / 5! different arrangements.
Step-by-step explanation:
When determining the number of different ways to select first, second, and third prize winners from a group of 8 people running a race with no ties, we are dealing with permutations. A permutation is an arrangement of all or part of a set of objects, with regard to the order of the arrangement. In this case, we want to find the permutation of 8 items taken 3 at a time, since we are only concerned with the top three positions.
The formula for permutations of n items taken r at a time is nPr = n! / (n - r)!. Applying this to our scenario with 8 items (people) and we want to take 3 (top three winners), the calculation would be 8P3 = 8! / (8 - 3)!, which simplifies to 8! / 5!. Therefore, there are 8! / 5! different ways to select the first, second, and third prize winners from a group of 8 people.