Duration of the Gambler's Ruin
A simulation of the duration of the classic Gambler's Ruin. Starting from an initial fortune, a gambler wins or loses 1 dollar on each play until the gambler reaches a goal amount, called victory, or runs out of money, called ruin. Some statistics on the duration of the game are kept.
For a full explanation with context, theory, derivations, and problems to work, see http://www.math.unl.edu/~sdunbar1/MathematicalFinance/Lessons/FirstStepAnalysis/Duration/duration.xml