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Mr. Markov plays cards (Posted on 2010-06-26) Difficulty: 3 of 5
Mr. Markov either wins or loses at a card table. His result on a given day is related to his result the day before. If he loses today, there is a 50% chance he would lose tomorrow. If he wins today, there is a 30% chance that he would lose tomorrow. How often would he lose on two consecutive days? Assume an infinite horizon so the first day result is irrelevant. (Note: Losing three days in a row counts as losing on two consecutive days twice)

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  Subject Author Date
SolutionsolutionCharlie2010-06-26 14:58:43
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