Question: Practice with Martingales Consider the setup from lecture where we have forecasts from Monday and Tuesday for whether it will rain on Friday. Borrowing notation

Practice with Martingales Consider the setup from lecture where we have forecasts from Monday and Tuesday for whether it will rain on Friday. Borrowing notation from the textbook (linked above), let 1 and 2 denote the proportion of the time it rains on Friday in p1 and p2 proportion of the weeks, respectively. For each scenario below, explain whether it possibly represents well-calibrated beliefs. In other words, explain whether it satisfies the Martingale property

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