### [solution] » (3) A gambler repeatedly plays a game for which his probabilities of winning a dollar is p and of lo

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(3) A gambler repeatedly plays a game for which his probabilities of winning a dollar is p and of losing a dollar is (1 ? p) each time he plays. The games are independent. He plans to play the game repeatedly until he is ruined (loses all his money) or has 3 dollars. If the gambler begins with 1 dollar, what is the probability that he is ruined?
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##### [solution] » (3) A gambler repeatedly plays a game for which his probabilities of winning a dollar is p and of lo.zip

This paper was answered on 14-Oct-2020

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