Consider a gamblers ruin chain with N = 4. That is, if 1 i 3,

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Consider a gambler’s ruin chain with N = 4. That is, if 1 ≤ i ≤ 3, p(i, i + 1) = 0.4, and p(i, i − 1) = 0.6, but the endpoints are absorbing states: p(0, 0) = 1 and p(4, 4) = 1. Compute p³(1, 4) and p³(1, 0).

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Elementary Probability For Applications

ISBN: 9780521867566

1st Edition

Authors: Rick Durrett

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Question Posted: Feb 27, 2024 03:00 AM

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Consider a gamblers ruin chain with N = 4. That is, if 1 i 3,

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Elementary Probability For Applications

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