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stat2303_midterm

Calculate the value of 1 for 1 1 1 1 1 1 1 1 1 1 1 1

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Unformatted text preview: alculate the value of | 1. For , 1 | , | 1 1 1 1 1 1 1 1 1 1 1 1 1 | | 1 | 1 | 1 1 1 1 1 Page 3 of 5 , i.e. its density is Semester 1. 2010­2011 , STAT2303/2803 Probability Modelling/Stochastic Models Semester 1. 2010­2011 Question 4 (A Gambling model) Consider a gambler who, at each play of the game, either wins $1 with probability 0.4 or loses $1 with probability 0.6. Our gambler quits playing either when he attains a fortune of $0 or he attains a fortune $10. If we suppose the gambler has $5 at the beginning, then calculate t he probability that he attains $10 when he quits playing. Denote 0. to be...
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