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3 Playing B]acl(j ack Suppose you start with $1, and at each turn, you win $1 with probability p, or lose $1 with proba- bility

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3 Playing B]acl(j ack Suppose you start with $1, and at each turn, you win $1 with probability p, or lose $1 with proba- bility 1 p. You will continually play games of Blackjack until you either lose all your money, or you have a total of n dollars. (a) (b) (c P (d) Formulate this problem as a Markov chain. Let (i) denote the probability that you end the game with n dollars, given that you started with [ dollars. Notice that for 0

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