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June 17th, 2018, 10:01 AM  #1 
Newbie Joined: Jun 2018 From: england Posts: 1 Thanks: 0  Gambling Question pls Help
Assume that a gambler plays a fair game where he can win or lose 1 dollar in each round . His initial stock is 200 dollar. He decides a priory to stop gambling at the moment when he either has 500 dollars or 0 dollars in his stock. Time is counted by the number of rounds played. i) show that the probability that he will never stops gambling is zero ii ) Compute the probability that at the time when he stops gambling he has 500 dollars and theprobability that he has zero dollars 
June 17th, 2018, 03:14 PM  #2 
Global Moderator Joined: May 2007 Posts: 6,586 Thanks: 612 
This is a standard one dimensional random walk with absorbing barriers. Check Google.


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