Question: A5.1 Gamblers Ruin problem Consider a (fair) coin-flipping game with two (2) players where each player writes down their choice (Head or Tail) prior to

A5.1 Gamblers Ruin problem Consider a (fair) coin-flipping game with two (2) players where each player writes down their choice (Head or Tail) prior to the coin flip. If you both bet on the same outcome (whether right or wrong), the game continues to the next coin flip. Otherwise, one of you is the winner. (a) What is the chance YOU win on the first flip? [ Be careful! ] (b) What is the chance YOU win on the third flip? [ HINT: Independence ] (c) Why does your chance of winning get smaller as the number of flips increases? Explain

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