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A bookie puts the odds of team A winning a contest at p =.40.A bet on team A of $10 will return $20 if A

A bookie puts the odds of team A winning a contest at p=.40.A bet on team A of $10 will return $20 if A wins.

___ 24. The expected return to the bettor is

(a)$5

(b)$2

(c)-$2

(d)-$5

___ 25. Suppose the bettor has inside information that puts the odds of team A winning at .55.The bettor's expected return in this case is

(a)$2

(b)$1

(c)-$1

(d)-$2

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