Uncertainty refers to the lack of certainty or sureness about the future outcomes of events. It is an inherent characteristic of economic activity, influencing decisions made by individuals, businesses, and governments. 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 is a situation in which something is not known or certain, or a feeling of not being sure what will happen in the future. Learn more about the meaning, usage, and collocations of uncertainty with examples from the Cambridge Dictionary. UNCERTAINTY meaning: 1. a situation in which something is not known, or something that is not known or certain: 2. a…. Learn more.
