=+14. Let i be independent identically distributed (i.i.d.) random variables with P(i = 1) = 1/2. Consider

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=+14. Let ζi be independent identically distributed (i.i.d.) random variables with P(ζi = ±1) = 1/2. Consider the stochastic process ηn

, n = 0, . . . , N, defined by η0 = 0 and and its natural filtration {An}. Show that

θn

= (−1)n cos(πηn

)

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