A new approach to probability theory is presented with reference to statistics and statistical physics. At the outset, it is recognized that the “average man” of a population and the “average particle” of a gas are only objects of thought, and not real entities which exist in nature. The concept of average (man) is generalized as a new concept of represental (man) whose epistemological status is intermediate between those of the particular (the man) and the universal (a man). This new concept has become necessary as a result of emergence of statistics as a new branch of human knowledge at the beginning of the nineteenth century. Probability is defined with reference to the represental. The concept of probability is the same in probability theory and in physics. But whereas in statistics the probabilities are estimated using random sequences, in statistical physics they are determined either by the laws of physics alone or by making use of the laws of probability also. Thus in physics we deal with probability at a more basic level than in statistics. This approach is free from most of the controversies we face at present in interpreting probability theory and quantum mechanics.