Suppose that on each play of the game a gambler either wins $1 with probability p = 3 or loses $1 with probability 1 — p = 4

CheemnCatelvew

CheemnCatelvew

Answered question

2021-09-07

Suppose that on each play of the game a gambler either wins $1 with probability p = 3 or loses $1 with probability 1 — p = 4. The gambler continues betting until she or he is either up $6 or down $3. What is the probability that the gambler does not lose $3 if he plays indefinitely?

Answer & Explanation

nitruraviX

nitruraviX

Skilled2021-09-08Added 101 answers

The probability is

Do you have a similar question?

Recalculate according to your conditions!

New Questions in High school probability

Ask your question.
Get an expert answer.

Let our experts help you. Answer in as fast as 15 minutes.

Didn't find what you were looking for?