stat2303_midterm

Denote 0 to be the probability of getting 10 when the

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Unformatted text preview: the probability of getting $10 when the gambler has $ . Obviously, 0.4 Conditioning on the result of the next game he played, we get 1,2, … ,9. Then, 0.4 0.6 0.4 0.6 0.6 0.4 3 2 Recursively, we get 3 2 3 2 3 2 3 2 3 2 3 2 Adding these equations, we get 3 2 1 3 2 3 2 3 2 3 2 Page 4 of 5 3 2 1 1 3 2 3 2 0.6 for STAT2303/2803 Probability Modelling/Stochastic Models With the fact that 1, we have 1 3 2 3 1 2 1 So, 1 1 3 2 3 2 Then, 1 1 3 2 3 2 1 1 3 2 3 2 Therefore, 1 1 3 2 3 2 32 275 Page 5 of 5 0.1164 Semester 1. 2010­2011...
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