as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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compare and contrast a biconditional statement to a conditional statement.
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a conditional statement is a statement that can be expressed as "if p then q", where p is a hypothesis and q is a conclusion. a biconditional statement is a statement that can be expressed as "p if and only if q", where p and q are both hypotheses or both conclusions. the difference is that in a conditional statement, the hypothesis could be true but the conclusion could be false, whereas in a biconditional statement, the hypotheses and conclusions must both be true for the statement to be true.
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