Question 1 Text Consider the random walk on the state space S = (0, 1, 2, ...} with transition probabilities given as follows" Pi, i+1 =p=1- Pi, i-1 for all iz 1; Further Po,1 =p and Po,0 = 1-p, where...

Extracted text: Question 1 Text Consider the random walk on the state space S = (0, 1, 2, ...} with transition probabilities given as follows" Pi, i+1 =p=1- Pi, i-1 for all iz 1; Further Po,1 =p and Po,0 = 1-p, where p is such that 0