Accession Number : AD0606451

Title :   THE CASINO THAT TAKES A PERCENTAGE AND WHAT YOU CAN DO ABOUT IT,

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Savage,Leonard J.

Report Date : 17 OCT 1957

Pagination or Media Count : 17

Abstract : If the casino's cut is at least 100 gamma %, then the probability of running a fortune up to t times its original value is less than 1 - ((t - 1)/t) to the 1-gamma power, but it can sometimes be nearly that much. (Author)

Descriptors :   (*DYNAMIC PROGRAMMING, PROBABILITY), (*PROBABILITY, DYNAMIC PROGRAMMING), INEQUALITIES, FUNCTIONS(MATHEMATICS), STOCHASTIC PROCESSES

Distribution Statement : APPROVED FOR PUBLIC RELEASE