UNCERTAINTY

Uncertainty

Uncertainty is a term used in subtly different ways in a number of fields, including philosophy, physics, statistics, economics, finance, insurance, psychology, sociology, engineering, and information science. It applies to predictions of future events, to physical measurements that are already made, or to the unknown. Uncertainty arises in partially observable and/or stochastic environments, as well as due to ignorance and/or indolence.

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uncertainty

Noun

  1. Doubt; the condition of being uncertain or without conviction.
  2. Something uncertain or ambiguous.
  3. A parameter that measures the dispersion of a range of measured values.


The above text is a snippet from Wiktionary: uncertainty
and as such is available under the Creative Commons Attribution/Share-Alike License.

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