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Rohan chose 50 M&M's out of a total of 500, which is 10% of the total. If 8 out of the 50 M&M's he chose were red, then we can estimate that about 10% of the entire bag is red as well.
Therefore, we can predict that there are about 50 red M&M's in the bag (10% of 500).
So the answer is 50.