Question

Make a Markov chain model of a poker game where the states are the number of dollars a player has. With probability .3 a player wins 1 dollar in a period, with probability .4 a player loses 1 dollar, and with probability . 3 a player stays the same. The game ends if the player loses all his or her money or if the player has 6 dollars (when the game ends, the Markov chain stays in its current state forever). The Markov chain should have seven states, corresponding to the seven different amounts of n1oney: 0, I , 2, 3, 4, 5, or 6 dollars. If you now have $2, what is your probability distribution in the next round? In the round after that?

Answer 1

Answer:3533

Step-by-step explanation: