there may be more than two possibilities (but it will no longer be 'simple' random walk).
March 26th 2011, 09:43 PM
A few questions:
- random walk is a sequence of independent random variables, a (stochastic) process in time; roulette is a one-off shot, ie one random variable, not a sequence - so, are you looking to model a repeated sequence of roulette spins?
- the 'time' connection: do you want to model expected winnings over a period of time?
I would love to hear what the experts have to say, as I am just a learner.