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Stochastic Models

Assignment Requirements
 
 
 
There are three problems to solve. I have also attached the lecture notes which correspond to these problems. And for problem 9 I have attached 2 files called ‘seminar 8’ and ‘seminar 8 solutions’ questions 4 and 5 are very similar to problem 9 so you can easly see how my teacher solve that kind of problems. I need full workings and solutions.
Gambler’s ruin problem: expected times. Exercises on conditional expectations.
 
Lecture notes from page 99 to 133 correspond to these problems.
Markov Chain: stationary distributions
Lecture notes up to page 170 correspond to this problem.
 
 
 
 
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