5. A certain casino game costs $1 to play and has an outcome of a loss with probability p, which nets $0 (a loss of the $1), or an outcome of a win with probability 1-p, which nets $2 (winnings of $1 + $1 from upfront cost). Each game costs exactly $1. a. What is the probability that a player starting with $1 will end up losing all winnings on exactly the Th game? Use p = 0.3. b. What is the probability that a player starting with $1 will end up losing all winnings in less than 10 games? Use p = 0.5. c. Find the probability that a player starting with $1 will lose all of their winnings eventually, as a function p. Plot your answer.
5. A certain casino game costs $1 to play and has an outcome of a loss with probability p, which nets $0 (a loss of the $1), or an outcome of a win with probability 1-p, which nets $2 (winnings of $1 + $1 from upfront cost). Each game costs exactly $1. a. What is the probability that a player starting with $1 will end up losing all winnings on exactly the Th game? Use p = 0.3. b. What is the probability that a player starting with $1 will end up losing all winnings in less than 10 games? Use p = 0.5. c. Find the probability that a player starting with $1 will lose all of their winnings eventually, as a function p. Plot your answer.
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