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Runs and the generalised Fibonacci sequence
Published online by Cambridge University Press: 01 August 2016
Extract
The relationship in this article was discovered by Alan Tomkins and the proof supplied by David Pitt. The original inspiration was the statistical study of gambling systems—one method of attempting to win being to increase the amount staked each time you lose. The idea of this is that when you eventually win the amount won is sufficient to more than offset the losses on the preceding string of losers and put you back into the black. The snag is that this string of losers can leave you with insufficient funds to keep increasing the stake as necessary. The question which comes to mind is: in a given number of races, on how many occasions are we to expect a run of losers of a certain length?
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- Copyright © Mathematical Association 1985
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