In a gambling game, the player has $ 4. In each game he wins $ 1 with probability 0.70, while losing $ 2 with probability 0.30. The player quits the game if he loses his capital of $ 4 or wins at...

Extracted text: In a gambling game, the player has $ 4. In each game he wins $ 1 with probability 0.70, while losing $ 2 with probability 0.30. The player quits the game if he loses his capital of $ 4 or wins at least $ 3. In that case, a) Draw the state transition diagram of this process. b) Write the Markof transition matrix P for the process. c) Find the probability that the player plays at least 5 times.