The conceptual framework concerned with quantification of probabilities. See probability.

the branch of applied mathematics that deals with probabilities

The use of statistics to analyze past predictable patterns and to reduce risk in future plans.

The size and accuracy of your test governed by this statistical theory.

(noun) A branch of mathematics concerned with the analysis of random events. The outcome of a random event cannot be determined before it occurs, but it may be any one of several possible outcomes. The actual outcome is considered to be determined by chance. (See our Dice Game to learn more!)

The mathematical theory of random ( nondeterministic) phenomena.

Probability theory is the mathematical study of phenomena characterized by randomness or uncertainty.