Concept:
Equivalent weight is given by:
\[
E = \frac{\text{Molar mass}}{n\text{-factor}}
\]
Step 1: n-factor of I$_2$
I$_2 \rightarrow 2I^-$
Each iodine gains 1 electron, so total electrons gained = 2
\[
n = 2 \Rightarrow E(I_2) = \frac{M_2}{2}
\]
Step 2: n-factor of Na$_2$S$_2$O$_3$
In thiosulfate, one molecule donates 1 electron equivalent in redox change:
\[
n = 1 \Rightarrow E(Na_2S_2O_3) = M_1
\]
Step 3: Final result
\[
E(Na_2S_2O_3), E(I_2) = (M_1, \frac{M_2}{2})
\]