What is another word for probability theory?
Pronunciation: [pɹˌɒbəbˈɪlɪti θˈi͡əɹi] (IPA) 
Probability theory is a branch of mathematics that deals with the study of random events and their likelihood of occurrence. Synonyms for probability theory include the theory of chances, statistical theory, stochastic theory, and the study of random variables. These terms represent the idea of making predictions about the unknown future based on probability models, and they highlight the fundamental principles of probability theory. Probability theory is a crucial tool in many fields like finance, engineering, and science, where it is used to predict and analyze random events. Whatever the field or application, understanding probability theory is an essential component for making accurate predictions and taking informed decisions.
