Uncertainty: What is Uncertainty Analysis

What is Uncertainty Analysis? Uncertainty Analysis is a systematic approach used to quantify and analyze the uncertainty inherent in various processes, models, and measurements. It plays a crucial role in fields such as statistics, data analysis, and data science, where decision-making often relies on the interpretation of uncertain data. By identifying and assessing the sources of uncertainty , practitioners can better understand the reliability of their results and the implications for ... Uncertainty or incertitude refers to situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown, and is particularly relevant for decision-making. Uncertainty arises in partially observable or stochastic or complex or dynamic environments, as well as due to ignorance, indolence, or both. [1] It arises in any number of fields, including insurance, philosophy, physics, statistics ... Learning Objectives Determine the correct number of significant figures for the result of a computation. Describe the relationship between the concepts of accuracy, precision, uncertainty , and discrepancy. Calculate the percent uncertainty of a measurement, given its value and its uncertainty . Determine the uncertainty of the result of a computation involving quantities with given uncertainties. Psychology Definition of UNCERTAINTY : noun. the state or condition wherein something isn't correctly or totally acknowledged. 2. absence of confidence or