I have a probability question that hopefully someone can help answer.
If you had a machine that randomly generated a 1 or -1 at each interval, and you started at zero, what's the probability that you'd get to +14 versus -6. Is it equal probability of both?
For example, if the machine generated the following stream:
+1
-1
+1
+1
+1
-1
You'd end up at a cumulative result of 2. Given that process continuing, eventually it would hit either 14 or -6. Is the probability 50/50 that either would get hit? If the targets changed would that make any difference? For example, +10, -10.
If you had a machine that randomly generated a 1 or -1 at each interval, and you started at zero, what's the probability that you'd get to +14 versus -6. Is it equal probability of both?
For example, if the machine generated the following stream:
+1
-1
+1
+1
+1
-1
You'd end up at a cumulative result of 2. Given that process continuing, eventually it would hit either 14 or -6. Is the probability 50/50 that either would get hit? If the targets changed would that make any difference? For example, +10, -10.