Statistics Concept — The Gambler’s Ruin Problem
The Complete Beginner’s Guide to The Gambler’s Ruin Problem with concept explanation and mathematical derivation
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5 min readNov 2, 2022
In this article, I will introduce one of the statistics concepts, the Gambler’s Ruin Problem. This concept is relevant to gamblers when a gambler who raises his or her bet to a fixed fraction after…