Solve the Gambler’s Ruin problem where N = 5 and p = 1 − q
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Solve the Gambler’s Ruin problem where N = 5 and p = 1 − q

2. Solve the Gambler’s Ruin problem where N = 5 and p = 1 − q = 1/4 by expressing the transition matrix P into the canonical form and solving for the eventual probability of ruin and the eventual probability of exiting at $ N.

Hint
MathematicsGambler's Ruin problem: It is essentially a Markov chain in which the sequence of wealth amounts that gambler A has at any point in time mainly determines the underlying structure. Henceforth, gambler A can have i wealth, at any point in time n, where i also represents the state of the chain at time n....
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