Throughout a month (30 days), everyday you play a certain game exactly once. On the first day you deposit 1000 coins and everyday you bet any positive amount (not exceeding the deposit) and at the end of the game, your bet is tripled (with probability 4/9) and added to your deposit or lost (with probability 5/9), independently each day. If on some day, you bet all your deposit and lose the game, then you are bankrupt and game ends. How much should you bet on each day?

Throughout a month (30 days), everyday you play a certain game exactly once. On the first day you deposit 1000 coins and everyday you bet any positive amount (not exceeding the deposit) and at the end of the game, your bet is tripled (with probability 4/9) and added to your deposit or lost (with probability 5/9), independently each day. If on some day, you bet all your deposit and lose the game, then you are bankrupt and game ends. How much should you bet on each day?

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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