A gambler plays roulette at Monte Carlo and continues gambling. A gambler is wagering the same amount each time on “Red”, until he wins. The probability of “Red” is known as 18/38 Note that he has only enough money for 5 trials. What is the probability that he will win anyway before he exhausts his money?   A gambler

MATLAB: An Introduction with Applications
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A gambler plays roulette at Monte Carlo and continues gambling. A gambler is wagering the same amount each time on “Red”, until he wins. The probability of “Red” is known as 18/38

  1. Note that he has only enough money for 5 trials. What is the probability that he will win anyway before he exhausts his money?

 

  1. A gambler decides to bet on “Red” until he wins multiple times. What is the probability that he wins twice on the 5 independent trials?
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