Statistical theory is a term that refers to the set of principles and methods used in the analysis and interpretation of data. It is a concept that has gained significant importance in various fields, particularly in science, medicine, economics, and social sciences. There are several synonyms for statistical theory, including mathematical statistics, probability theory, inferential statistics, and applied statistics. These terms all relate to the same fundamental idea of using mathematical and statistical methods to understand data, but each has its unique focus and perspective. Possessing a robust understanding of statistical theory is integral for professionals who want to make informed decisions based on data analysis and interpretation, enhancing their decision-making skills.