Mary is playing a game where she flips a coin with probability of head = p. She wins $1 if the coins comes up heads, and looses $1 if it comes out tails. She starts with $3, and p=0.6. What is the probability that Mary will become go broke? In this case, assume that N=infinity. That is, compute the probability she wins an amount of money N and then let N go to infinity. How does that help you compute the probability
Mary is playing a game where she flips a coin with probability of head = p. She wins $1 if the coins comes up heads, and looses $1 if it comes out tails. She starts with $3, and p=0.6. What is the probability that Mary will become go broke? In this case, assume that N=infinity. That is, compute the probability she wins an amount of money N and then let N go to infinity. How does that help you compute the probability
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Mary is playing a game where she flips a coin with probability of head = p. She wins $1 if the coins comes up heads, and looses $1 if it comes out tails. She starts with $3, and p=0.6. What is the probability that Mary will become go broke? In this case, assume that N=infinity. That is, compute the probability she wins an amount of money N and then let N go to infinity. How does that help you compute the probability she goes broke?
If she starts with 3 and all the money in play is N, we got a formula yesterday.
Note that the numerator will be fixed and the denominator will depend on N
Then let N go to infinity.
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