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i think the weighting is a good idea. be careful with the 1 to 20 points also. is finishing 6th as much better from 11th place finish, than worse from 1st?... some grouping may be good... (lets be honest 12th is not that much better than 14th, but would get as much bonus as 2nd over 4th)
The one thing i would recommend is once you have come up with some formula, test it on past years to see if it accomplishes what you want..
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