Question

Every time a certain basketball team wins, the players become over-confident. In that case, their chance...

Every time a certain basketball team wins, the players become over-confident. In that case, their chance of winning the next game is only 35%. Every time the team loses, the players become angry with themselves and more focused. In that case, their chance of winning the next game is 75% Assuming that the team wins the 1st game, calculate the probability they win the 4th game. Find the equilibrium distribution as well.

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