Definition of Matrix Equivalence and Implications

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My understanding of the definition of matrix equivalence is that two matrices are equal if they can be transformed into each other by a combination of elementary row and column operations.

Therefore, if A = PB, where P is an invertible matrix composed of elementary matrices, then A and B are equivalent matrices because they can be transformed into each other by elementary row and column operations.

As such, A and B have equivalent reduced row echelon forms, and equivalent images and kernels, because A is equivalent to B.

This seems too simplistic, and makes short work of a proof I am working on if it is true. Is something about my logic here incorrect?