Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 305 Weeks Ago, 6 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 02 Nov 2017 My Price 7.00

“heads or tails,”

Consider the gambler’s ruin problem (Example 3.14) in which two gamblers play the game of “heads or tails.” Each time a fair coin lands heads up, player A wins $1 from player B, and each time it lands tails up, player B wins $1 from A. Suppose that, initially, player A has a dollars and player B has b dollars. We know that eventually either player A will be ruined in which case B wins the game, or player B will be ruined in which case A wins the game. Let T be the duration of the game. That is, the number of times A and B play until one of them is ruined. Find E(T).

Example 3.14

(Gambler’s Ruin Problem)

Two gamblers play the game of “heads or tails,” in which each time a fair coin lands heads up player A wins $1 from B, and each time it lands tails up, player B wins $1 from A. Suppose that player A initially has a dollars and player B has b dollars. If they continue to play this game successively, what is the probability that (a) A will be ruined; (b) the game goes forever with nobody winning?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 02 Nov 2017 06:11 PM My Price 7.00

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