Combined initial capital, What is the expected duration of

Combined initial capital

Reference no: EM1399642

In a classical ruin problem with two gamblers, the initial capital of one of the gamblers, Alice, is $90 and the combined initial capital (CIC) is $200. In each trial of the game, an unbiased coin is tossed - Alice wins when the coin shows heads.

a) What is the expected duration of the game?

b) Given the same CIC, how much more money should Alice have ititially so as to maximize the expected duration of the game?

Reference no: EM1399642

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