probability theory

noun Mathematics, Statistics.
the theory of analyzing and making statements concerning the probability of the occurrence of uncertain events. Compare probability ( def 4 ).

Origin:
1830–40

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
Only those who did not learn mathematics beyond secondary school probability
  theory are trapped in this finite universe of events.
The distinction between the two patterns goes to the philosophical heart of
  probability theory.
The newer methods of identification rely heavily on both probability theory and
  precise measurement.
Another, older example from probability theory illustrates a variant of the
  idea.
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