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Gambler's Ruin - Expository Introduction 
Course Topic(s): Probability | Discrete Distributions, Bernoulli and binomial | Famous Problems, gambler's ruin | Stochastic processes, discrete Markov chains
Concise statement of problem with clearly written proof of solution. Several nice examples with solutions are given. Applications to risk insurance and simple random walks included. Proofs for maximum, minimum and recurrence for a simple random walk are given.
Resource URL: http://www.columbia.edu/~ks20/stochastic-I/stochastic-I-GRP.pdf
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Subject classification(s):
Statistics and Probability
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Probability
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Univariate Distributions
Creator(s): Karl Sigman
Contributor(s): Karl Sigman
This resource was cataloged by Carolyn Cuff
Publisher:Karl Sigman
Resource copyright: Karl Sigman
This review was published on September 24, 2012
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