How much did she effectively contribute to the hiking club?

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
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The college hiking club is having a fundraiser to buy new equipment for fall and winter outings. The club is selling Chinese fortune cookies at a price of $2 per cookie. Each cookie contains a piece of paper with a different number written on it. A random drawing will determine which number is the winner of a dinner for two at a local Chinese restaurant. The dinner is valued at $37. Since fortune cookies are donated to the club, we can ignore the cost of the cookies. The club sold 718 cookies before the drawing. Lisa bought 27 cookies. Lisa's expected earnings can be found by multiplying the value of the dinner by the probability that she will win. How much did she effectively contribute to the hiking club?

A. $23.55

B. $49.41

C. $52.61

D. $25.63

E. $25.61

Expert Solution
Step 1

Given:

price of cookie = $2

total number of cookie sold by the club = 718

cookies brought by lisa = 27

Dinner is worth $37

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