On each bet a gambler loses $1 with probability 0.7, loses $2 with probability 0.2, and wins
Question:
On each bet a gambler loses $1 with probability 0.7, loses $2 with probability 0.2, and wins $10 with probability 0.1. Estimate the probability that the gambler will be losing after 100 bets.
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The mean of one bet is 1 The second moment is 115 ...View the full answer
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