Gambler's Ruin and Sequential Analysis,

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Abstract:

A straightforward algebraic approach successfully demonstrates that the solutions to the classical gamblers ruin also known as random walk on a straight line, and a suitably stated version of the sequential analysis testing of a hypothesis, are identical. That is gamblers ruin and sequential analysis are essentially the same, from the point of view of the probability problem which is solved. Author

Author(s):
Weingarten, H.
Author Organization(s):
CENTER FOR NAVAL ANALYSES ARLINGTON VA OPERATIONS EVALUATION GROUP
Pagination:
0018

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:
Approved For Public Release

RECORD

Collection: TR
Identifying Numbers
Report Number(s):
OEG-Research Contrib-59
Contract/Grant Number(s):
Nonr-3732(00)
 Subject Terms
Communities of Interest:
No COI(s) Identified
Descriptor(s):
(*PROBABILITY, PROBLEM SOLVING), (*GAME THEORY, SEQUENTIAL ANALYSIS), DIFFERENCE EQUATIONS, MATRICES(MATHEMATICS)
Field(s)/Group(s):
Statistics and Probability, Operations Research
Keyword(s):
RANDOM WALK, SEQUENTIAL PROBABILITY RATIO TESTS
Report Date:
1964 Aug 07