You play a game of double roulette. You place a bet of 10 chips that the spinner w land on a number between 1 and 12. The payoffs in this particular game are as
follows:
Note: Vand Q are included on the roulette wheel as well as the numbers 1 throus
.
You win 25 chips (the original 10 chips plus 15 more) if the spinner lands on
number from 1-12.
You keep your 10 chips if the spinner lands on 0 or 00.
You lose your 10 chips if the spinner lands on any other number
You place the same bet 50 times. Your expected winnings at the end of the 50 game
lose 24 chips