61 Suppose in the gamblers ruin problem that the probability of winning a bet depends on the gamblers present fortune Specifically, suppose that i is the probability that the gambler wins a bet when his or her fortune is i Given that the gamblers initial fortune is i, let P(i) denote the probabilit...

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61. Suppose in the gamblers ruin problem that the probability of winning a bet depends on the...

Question:

61. Suppose in the gambler’s ruin problem that the probability of winning a bet depends on the gambler’s present fortune. Specifically, suppose that αi is the probability that the gambler wins a bet when his or her fortune is i. Given that the gambler’s initial fortune is i, let P(i) denote the probability that the gambler’s fortune reaches N before 0.

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