5. Construct the transition probability matrix when game starts with $8 and gambler with initial capital $3 starts the game and his probabilities of winning, losing and drawing a game are (0.46, 0.44,.10) respectively with stopping criteria is either gambler ruins or wins all amount. Further, find expected duration of the game when gambler either wins or loses a game with equal probability and no possibility of draw.

5. Construct the transition probability matrix when game starts with $8 and gambler with initial capital $3 starts the game and his probabilities of winning, losing and drawing a game are (0.46, 0.44,.10) respectively with stopping criteria is either gambler ruins or wins all amount. Further, find expected duration of the game when gambler either wins or loses a game with equal probability and no possibility of draw.

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Description: 5. Construct the transition probability matrix when game starts with $8 and gambler withinitial capital $3 starts the game and his probabilities of winning, losing and drawing agame are (0.46, 0.44,.10) respectively with stopping criteria is either

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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5. Construct the transition probability matrix when game starts with $8 and gambler with
initial capital $3 starts the game and his probabilities of winning, losing and drawing a
game are (0.46, 0.44,.10) respectively with stopping criteria is either gambler ruins or
wins all amount. Further, find expected duration of the game when gambler either wins
or loses a game with equal probability and no possibility of draw.

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