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Mathematics, 28.08.2020 23:01 Hi1234t6

Suppose that on each play of a game, a gambler either wins 1 with probability p or loses 1 with probability 1–p (or q). The gambler keeps betting until she or he is either up a total of n or down a total of m. What is the probability the gambler will quit an overall winner? You must consider both cases when p = 0.5 and when p ≠ 0.5

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Suppose that on each play of a game, a gambler either wins 1 with probability p or loses 1 with prob...

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