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) Ben and Allison each decide to wager 1 unit against the other person on flips of...

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Statistics

) Ben and Allison each decide to wager 1 unit againstthe other person on flips
of an unfair coin, with probability 0.6 of landing head, until oneof them runs out of money.
When the flip lands on head, Ben wins 1 unit from Allison; and whenthe coin lands on tail,
Allison wins 1 from Ben. At the start of the contest, Ben has 30units and Allison has 45
units. Find
(a) the average number of flips needed until Ben is eventuallybroke,
(b) the average number of flips needed until Allison is eventuallybroke, and
(c) the average number of flips needed until either Ben or Allisonis eventually broke.

Answer & Explanation Solved by verified expert
4.4 Ratings (906 Votes)
AnswerGiven thatBen and Allison each decide to wager 1 unit against the otherperson on flipsof an unfair coin with probability 06 of landinghead until one of them runs out    See Answer
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