Suppose one has $1 now, and wants to win an additional dollars, where N~ Poisson(A). He tosses a fair coin repeatedly; if it comes up heads, he wins one dollar, but if it comes up tails, he loses one dollar. He plays this game until one of two events occurs: either he runs out of money and is bankrupted or he reaches his goal. (1). What is the probability that he will ultimately win? (2). On average, how long will his game last?

Suppose one has $1 now, and wants to win an additional dollars, where N~ Poisson(A). He tosses a fair coin repeatedly; if it comes up heads, he wins one dollar, but if it comes up tails, he loses one dollar. He plays this game until one of two events occurs: either he runs out of money and is bankrupted or he reaches his goal. (1). What is the probability that he will ultimately win? (2). On average, how long will his game last?

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.8: Probabilities Of Disjoint And Overlapping Events

Problem 2C

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