Peter starts with $10,000 and Paul with $1,000. They bet $100 each on each game. In...
Peter starts with $10,000 and Paul with $1,000. They bet $100 each on each game. In each game, each player has the same chance of winning. What is the probability that Peter goes broke?
Homework Answers
since probability is same for both the players and initial money for perter a =10000 and paul =1000
probability that Peter goes broke =1-a/(a+b) =1-10000/(10000+1000)= 0.0909
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