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 $3 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 $34. Since fortune cookies are donated to the club, we can ignore the cost of the cookies. The club sold 721 cookies before the drawing. Lisa bought 17 cookies. Lisa's expected earnings can be found by multiplying the value of the dinner by the probability that she will win. What are Lisa's expected earnings?

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Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.