Unformatted text preview: = 1 / 2 for the remaining twothirds of its clients. Problem 4: (Problem 56, p.271) Suppose a gambler wins in a sequence of i.i.d. trials with success probability (i.e. to win) p . The gambler continues betting until he wins n or loses m trials. What is the probability that the gambler quits a winner? Problem 5: (Problem 52, p. 272) A taxi driver provides service to two zones A and B in a city. ±ares picked up in zone A will have destination in zone A with probability 0.6 or in zone B with probability 0.4. ±ares picked up in zone B will have destination in A with probability 0.3 or in zone B with probability 0.7. The driver’s expected proFt for a trip entirely in zone A is $6, for a trip entirely in zone B it is $8; and for a trip between the two zones it is $12. ±ind the drivers average proFt per trip. What is the steady state of this Markov chain?...
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 Spring '08
 DENKER
 Probability, Stochastic Modeling, Markov chain, $6, $8

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