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How to Calculate Probability of Going Broke

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12-04-2004, 06:37 PM

whitelime

whitelime is offline

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How to Calculate Probability of Going Broke

How do I calculate the probability of going broke given my bankroll, SD, and mean? Here is a hypothetical example...

Bob has $80. On average, he makes $1/hr. His standard deviation is 16. He can potentially lose money in an hour. What is the probability that he will reach $500 before he goes broke? What is the probability that he will ever go broke?

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