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1 Gambler’s Ruin Problem - Columbia University

1 Gambler’s Ruin Problem - Columbia University

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1 Gambler’s Ruin Problem Consider a gambler who starts with an initial fortune of $1 and then on each successive gamble either wins $1 or loses $1 independent of the past with probabilities p and q

  University, Columbia university, Columbia, Gamblers, Ruin, Gambler s ruin

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