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Answer to Question #89013 in Statistics and Probability for Anirban Karmakar

Question #89013
A casino owner wins Rs 1000 with probability 0.55 and loses Re 1 with probability 0.45. If he starts with Rs 60,000, what is the probability that of ruin?
1
Expert's answer
2019-05-04T12:08:10-0400
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