As a variation of the gambler's ruin problem, suppose that on each play, the probability of winning
Question:
(a) What is the probability of his eventually going broke if he starts with $1? $2? $3?
(b) If the gambler begins with $2, what is the expected number of times that he will play before quitting?
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First find the absorbing stochastic matrix and calculate the fundamental and stable matrices T...View the full answer
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Related Book For 
Finite Mathematics and Its Applications
ISBN: 978-0134768632
12th edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
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