posted by andre
When Mr. Lucky starts betting, he has 3 dollars. On any bet, he 7. wins with probability 1/3 and loses with probability 2/3. If he wins
a bet, the total amount of money he has triples. If he loses a bet, he
loses 2/3 of the total amount of money he has. Mr. Lucky’s objective
is to walk away with 27 dollars in his pocket, and he can keep playing as long as he has at least 3 dollars. What is the probability that he reaches his objective? Express your answer as a common fraction.
1/10 to end up with exactly 27
6/10 to end up with at least 27
4/10 to lose