De Finetti's theorem

In probability theory, de Finetti's theorem states that exchangeable observations are conditionally independent given some latent variable to which an epistemic probability distribution would then be assigned. It is named in honor of Bruno de Finetti. Thus, while observations need not be i.i.d. for a sequence to be exchangeable, there are underlying, generally unobservable, quantities which are i.i.d. – exchangeable sequences are (not necessarily i.i.d.) mixtures of i.i.d. sequences.

De Finetti's theorem

In probability theory, de Finetti's theorem states that exchangeable observations are conditionally independent given some latent variable to which an epistemic probability distribution would then be assigned. It is named in honor of Bruno de Finetti. Thus, while observations need not be i.i.d. for a sequence to be exchangeable, there are underlying, generally unobservable, quantities which are i.i.d. – exchangeable sequences are (not necessarily i.i.d.) mixtures of i.i.d. sequences.