Absorbing markov chain with states

Reference no: EM13983569

A gambler plays a game in which on each play he wins one dollar with probability p and loses one dollar with probability q = 1 - p. The Gambler's Ruin problem is the problem of finding the probability wx of winning an amount T before losing everything, starting with state x. Show that this problem may be considered to be an absorbing Markov chain with states 0, 1, 2, . . . , T with 0 and T absorbing states. Suppose that a gambler has probability p = .48 of winning on each play. Suppose, in addition, that the gambler starts with 50 dollars and that T = 100 dollars. Simulate this game 100 times and see how often the gambler is ruined. This estimates w50.

Reference no: EM13983569

Questions Cloud

What emf is induced in the ring as the field changes : A transcranial magnetic stimulation (TMS) device creates very rapidly changing magnetic fields. The field near a typical pulsed-field TMS machine rises from 0 T to 2.5 T in 200 μs. Suppose a technician holds his hand near the device so that the ax..

Problem regarding the transition matrix : Consider the Markov chain with general 2 × 2 transition matrix

Calculate tension t at the bottom most point : Use the energy method to find Vb. Calculate Tension T at the bottom most point.

Why our galaxies are being pushed apart : Matter has gravity so could dark matter have dark energy, so sense there is more dark matter is that why our galaxies are being pushed apart?

Absorbing markov chain with states : A gambler plays a game in which on each play he wins one dollar with probability p and loses one dollar with probability q = 1 - p. The Gambler's Ruin problem is the problem of finding the probability wx of winning an amount T before losing everyth..

What was the initial speed of the discus required : Gabriele Reinsch threw a discus 76.80 m on July 9, 1988, to set the women's world record. What was the initial speed of the discus required to achieve that range?

What remains unclear for you as a reader : Post a full draft of your Final Research Essay to this Discussion by Sunday and then provide feedback on at least two of your peer's papers. Is the thesis clearly stated? Does the author support the claim made in the thesis with a persuasive argum..

What year was the federation started : Visit the website for a country-specific union federation and the website for the AFL-CIO. Prepare a table that compares and contrasts the focuses of the two federations. What year was the federation started? How many members does it represent

How far away is the vehicle from the centre of the earth : A future space craft coincidentally finds itself at momentary position where its force of gravitational attraction. How far away is the vehicle from the centre of the Earth?

User Account

All Pages