Grinstead-Snell-Probability · Problem 11.2.35

Markov Chains

Mathematics · absorbing-markov-chains

Problem

In Monte Carlo roulette (see Example 6.6), under option (c), there are six states (SS, WW, LL, EE, P1P_1, and P2P_2). Form a Markov chain for this option, and use the program AbsorbingChain to find the probabilities that you win, lose, or break even for a 1 franc bet on red. Using these probabilities, find the expected winnings for this bet.

Related theory

Browse the problem library