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 $5, 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?

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 $5, 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?

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter9: Counting And Probability

Section9.3: Binomial Probability

Problem 2E: If a binomial experiment has probability p success, then the probability of failure is...

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