Business and Personal Finance Dictionary

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• EQUIVALENT
  
  A concept in probability theory that means that two probability measures (q.v.) assign a probability of zero to precisely the same sets. Example: If the probability space corresponding to two flips of a fair coin is W = {HH, HT, TH, TT}, and two probability measures, P(.) and Q(.), both assign a probability of zero to the empty set, P(Æ) = Q(Æ) = 0, and to no other set, then they are equivalent probability measures.
  
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