Exercise 17.3.2 It is easy to check that = 2(p1 + p4)1. Show that this identity

Exercise 17.3.2 It is easy to check that ρ = 2(p1 + p4)−1. Show that this identity holds for any correlated binomial random walk defined by R1(i +1)− R1(i) = μ1 ±

σ1 and R2(i +1)− R2(i) = μ2 ±σ2, where ρ denotes the correlation between R1 and R2 and “±” means “+” or “−” each with a probability of one half.