Suppose that a player in a gambling game has $1 and with each play of the game wins $1 with a probability or loses $1 with probability. The game ends when the player either accumulates $3 or goes broke. This game is a Markov chain with states representing the player's current holding of money, that is $0, $1, $2, or $3, and with transition matrix given by

State

(i) classify the states for this matrix -

(ii) Determine the long run states, hence make your comments