... The Strong Markov PropertyThe random walk processfMkg1k=0is a Markov process, i.e.,IE random variable depending only onMk+1;Mk+2;:::jFk=IEsame random variablejMk :In discrete ... right-hand side of the following equation, and shewants it to beV2. Therefore, she wants to haveV2=1S2+1+rX1, 1S1:(1.11)Although we do not indicate it in the notation,S2 and V2depend ... two represented by (1.10) and the four represented by (1.11), in thesix unknownsV0,0,1H ,1T ,X1H ,and X1T .To solve these equations, and thereby determine the...