A gambler plays a game of chance favorable for him, winning in each play $5 with a

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A gambler plays a game of chance favorable for him, winning in each play $5 with a probability of 0.55 and losing the same amount with probability 0.45. The gambler decides to play until the total gain will reach $100. Assuming that the gambler has sufficiently enough money at his disposal, find how long it will take on the average. What is the answer for the case of equal probabilities?

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Probability And Stochastic Modeling

ISBN: 9781439872062

1st Edition

Authors: Vladimir I. Rotar

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