Answer to Question #87851 in Statistics and Probability for Raul Almidon

Question

John and Chris play a game consisting of several bets at a dollar each. John wins a one dollar bet with probability p and loses with probability q. Assuming that your initial capital is A dollars while Chris's capital is B dollars and that the game continues until John loses his capital or until his capital is A + B. Make a function in Python that simulates the game including a graph that shows John's capital at all times. If A = 10, B = 12 and p = .6 estimate the probability that John loses all his capital. Also estimate the expected duration of the game.

Answer 1

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