Definition (Exchangeable)
Let be a sequence of Random Variables, we say is exchangeable if every finite dimensional distribution of is the same as the corresponding finite dimensional distribution of where is any permutation of . i.e. One can reorder the RVs in any way and it won’t change the distribution.
Theorem (De Finetti)
Any sequence of random variables is if and only if there exists some quantity , s.t. conditional on , are Independent and identically distributed.