Question: Consider the IID process {Xt, t = 1, 2, 3, . . .} such that E(Xt) = =0, t = 1, 2, . . .

Consider the IID process {Xt, t = 1, 2, 3, . . .} such that E(Xt) = μ=0, t = 1, 2, . . .

Show that the process {M = ()k, 1=1,2,3,...} is a martingale.

Show that the process {M = ()k, 1=1,2,3,...} is a martingale.

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