Mathematical statistics is, in the present context, a term in the Swedish academic system meaning probability and statistics. These scientific disciplines both deal with variation and randomness, and provide tools to deal with these concepts in a systematic and coherent way. Since variation appears in almost any other discipline, probability and statistics have applications as good as anywhere.
Probability generally concerns the study and construction of mathematical theories and models for random phenomena and systems, whereas statistics takes its starting point in data, with the aim to understand, quantify and model variation in the data. Often a goal is to separate random variation from systematic differences between say different disease therapies, production processes, etc.
The research in probability and statistics at the KTH covers theoretical probability topics such as stochastic processes and stochastic control, applied probabilistic modelling for financial markets and insurance, but also theoretical statistics and applications to e.g. life sciences.