(E. Brown6) Mary and John are playing the following game: They have a three-card deck marked with...

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(E. Brown6) Mary and John are playing the following game: They have a three-card deck marked with the numbers 1, 2, and 3 and a spinner with the numbers 1, 2, and 3 on it. The game begins by dealing the cards out so that the dealer gets one card and the other person gets two. A move in the game consists of a spin of the spinner. The person having the card with the number that comes up on the spinner hands that card to the other person. The game ends when someone has all the cards.
(a) Set up the transition matrix for this absorbing Markov chain, where the states correspond to the number of cards that Mary has.
(b) Find the fundamental matrix.
(c) On the average, how many moves will the game last?
(d) If Mary deals, what is the probability that John will win the game?
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
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Income Tax Fundamentals 2015

ISBN: 9781305177772

33rd Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

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