You play a game of double roulette. You place a bet of 10 chips that the
spinner will land on a number between 1 and 12. The payoffs in this particular
game are as follows:
• You win 25 chips (the original 10 chips plus 15 more) if the spinner lands
on a 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 games is:
A. break even.
O B. win 15 chips.
O c. lose 45 chips.
O D. lose 24 chips.
O E. lose 79 chips.
