Gambles are independent


Gambles are independent, and each one results in player being equally likely to win or lose 1 unit. Let W denote net winnings of a gambler whose strategy is to stop gambling immediately after his first win. Determine

A) P[W > 0]

B) P[W < 0]

C) E[W]

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Basic Statistics: Gambles are independent
Reference No:- TGS0856083

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