4 A player has 3 dollars. At each play of a game, he loses a dollar with a probability of 3/4 but wins 2 dollars with probability of 1/4. He stops playing if he has lost his 3 dollars or he has won at least 3 dollars. Find the transient probability matrix of the Markov chain. What is the probability that there are at least 4 plays of the game?

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To find the transient probability matrix of the Markov chain representing the players situation we c... View the full answer