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Tom fixed a comma in a smoothing lecture, Oct 17
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lectures/smoothing.md

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@@ -558,10 +558,10 @@ $$
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These are $2$ equations in the $3$ unknowns
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$\bar c, b(1), b(2)$.
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$\bar c, b(1), b(2)$
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To get a third equation, we assume that at time $t=0$, $b_0$
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is the debt due; and we assume that at time $t=0$, the Markov
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To get a third equation, we assume that at time $t=0,$ $b_0$
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is debt due; and we assume that at time $t=0,$ the Markov
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state $s_0 =1$
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(We could instead have assumed that at time $t=0$ the Markov state $s_0 = 2$, which would affect our answer as we shall see)

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