Fund Raiser: Hiking Club The college hiking club is having

Chapter , Problem 11

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Fund Raiser: Hiking Club The college hiking club is having a fund raiser to buy new equipment for fall and winter outings. The club is selling Chinese fortune cookies at a price of $1 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 $35. Since the fortune cookies were donated to the club, we can ignore the cost of the cookies. The club sold 719 cookies before the drawing. (a) Lisa bought 15 cookies. What is the probability she will win the dinner for two? What is the probability she will not win? (b) Lisas expected earnings can be found by multiplying the value of the dinner by the probability that she will win. What are Lisas expected earnings? How much did she effectively contribute to the hiking club?