Exchangeable random variables: Difference between revisions

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In [[statistics]], an '''exchangeable sequence of random variables''' (also sometimes '''interchangeable''')<ref name="ChowTeicher"/> is a sequence such that future samplesobservations behave like earlier samplesobservations, meaning formally that any order (of a finite number of samplesobservations) is equally likely. This formalizes the notion of "the future being predictable on the basis of past experience." It is closely related to the use of [[independent and identically distributed random variables]] in statistical models. Exchangeable sequences of random variables arise in cases of [[simple random sampling]].

== Definition ==