Determine whether the following permutation is even or odd and write it as a product of transpositions in two different ways.
$(1527)(3567)(273)$
So far, I have the following: $(1527)(3567)(273) = (15)(12)(17)(35)(36)(37)(27)(23) = (57)(51)(56)(53)$
I can understand the part which states that $(1527)(3567)(273) = (15)(12)(17)(35)(36)(37)(27)(23)$, but I can't understand why that might be equal to $(57)(51)(56)(53)$.
Can someone explain why it is so?
To see why they are equal, you might find it helpful to first write your permutation as a product of disjoint cycles.
So, for example, assuming you are composing products of permutation from left to right, then note that $\varphi = (1527)(3567)(273)$ is not a product of disjoint cycles: we see that $7$ appears in all three of the factors, $2$, $3$ and $5$ each appear twice, etc.
So, composing from left to right gives us $$\varphi = (1527)(3567)(273) = (16357)(2) = (16357) = (63571) = (35716) = (57163) \ldots$$ Then writing the last as the product of transpositions gives us $$(57163) = (57)(51)(56)(63)$$
But recall, the decomposition of permutations into the product of transpositions is NOT unique: What is guaranteed is that for a given permutation, it can always and only be decomposed into the product of an even number of transpositions (hence is an even permutation), or an odd number of transpositions (in this case we call it an odd permutation.)
For your posted permutation, note that:
$$(1527)(3567)(273) = \underbrace{(15)(12)(17)(35)(36)(37)(27)(23)}_{\large 8\;\text{ transpositions: even}} = \underbrace{(57)(51)(56)(53)}_{\large 4\;\text{transpositions: even}}$$
Hence, your permutation is an even permutation.