My Math Forum  

Go Back   My Math Forum > High School Math Forum > Probability and Statistics

Probability and Statistics Basic Probability and Statistics Math Forum

LinkBack Thread Tools Display Modes
June 17th, 2018, 10:01 AM   #1
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
Akea is offline  
June 17th, 2018, 03:14 PM   #2
Global Moderator
Joined: May 2007

Posts: 6,806
Thanks: 716

This is a standard one dimensional random walk with absorbing barriers. Check Google.
mathman is offline  

  My Math Forum > High School Math Forum > Probability and Statistics

gambling, pls, question

Thread Tools
Display Modes

Similar Threads
Thread Thread Starter Forum Replies Last Post
Gambling History shaharhada Math 7 December 2nd, 2017 08:27 PM
Gambling Probability Question scottylancaster Probability and Statistics 4 June 22nd, 2017 02:00 AM
Gambling ricsi046 Applied Math 1 September 5th, 2015 09:01 AM
Help with Gambling Payouts...(%'s) thefirecrack3r Algebra 2 August 2nd, 2013 03:44 AM
a probability/gambling/odds making question captainglyde Algebra 1 November 30th, 2007 10:16 AM

Copyright © 2019 My Math Forum. All rights reserved.