Of two equivalent theories or explanations, all other things being equal, the simpler one is to be preferred. Actually, when competing hypotheses are equal in other respects, the hypothesis of choice is the one that introduces the fewest assumptions and postulates the fewest entities while still sufficiently answering the question. Oherwise said, entities should not be multiplied unnecessarily or, popularly applied, when you have two competing theories or answers that make exactly the same predictions, the simpler one is the better and ultimately, the correct one. This states in fact that plurality is not to be posited without necessity but, more important, it states that the explanation of any phenomenon should make as few assumptions as possible, eliminating those that make no difference in the observable predictions of the explanatory hypothesis or theory.
You’ve gotta love Ockham’s Razor for stating in so many words a simple … “keep it simple, stupid!”.