17-04-05 - A state is absorbing if p i , i := 1 The chain...

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17.4.5 Fifty-four players (including Gabe Kaplan and James Garner) participated in the 1980 World Series of Poker. Each player began with $10,000. Play continued until one player had won everybody else's money. If the World Series of Poker were to be modeled as a Markov chain, how many absorbing states would the chain have?
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Unformatted text preview: A state is absorbing if p i , i := 1 The chain would have two absorbing states: $0 and $540,000. A player leaves the game by either losing all his or her money or by winning all the money (54 times $10,000). page 1...
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This note was uploaded on 05/12/2010 for the course ESI 6321 taught by Professor Josephgeunes during the Spring '07 term at University of Florida.

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