## Calculate the expected profit and probability , Basic Statistics

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An individual has \$ 100 initially. He repeatedly plays a game of chance in which he earns \$ 100 with probability 0.8 or loses \$ 100 with probability 0.2. The stops playing at the first of two possibilities: he has no more money or he has 400\$.

(A) On average, how many times will heplays?

(B) What is the probability that he will end with \$ 400?

(C) Calculate the expected profit. Would he have had a better expected profit if he started with \$ 200?

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