Difference between revisions of "Uncertainty"

From Open Risk Manual
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== Definition ==
 
== Definition ==
'''Uncertainty''' is defined as the lack of knowledge.  
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'''Uncertainty''' is defined as the lack of knowledge.  Any situation in which the current state of knowledge is such that: the order or nature of things is unknown; the consequences, extent, or magnitude of circumstances, conditions, or events is unpredictable; and, credible probabilities to possible outcomes cannot be assigned.  Uncertainty can result from lack of information or from disagreement about what is known or even knowable.
  
Any situation in which the current state of knowledge is such that: the order or nature of things is unknown; the consequences, extent, or magnitude of circumstances, conditions, or events is unpredictable; and, credible probabilities to possible outcomes cannot be assigned.  
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* Quantitative definition: Measurement that characterizes the dispersion of values that could reasonably be attributed to a parameter.
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* Qualitative definition: A general term that refers to the lack of certainty in data and methodology choices, such as the application of non-­representative factors or methods, incomplete data on sources and sinks, or lack of transparency.
  
Uncertainty can result from lack of information or from disagreement about what is known or even knowable.
 
  
 
[[Category:Uncertainty]]
 
[[Category:Uncertainty]]

Revision as of 14:22, 27 October 2021

Definition

Uncertainty is defined as the lack of knowledge. Any situation in which the current state of knowledge is such that: the order or nature of things is unknown; the consequences, extent, or magnitude of circumstances, conditions, or events is unpredictable; and, credible probabilities to possible outcomes cannot be assigned. Uncertainty can result from lack of information or from disagreement about what is known or even knowable.

  • Quantitative definition: Measurement that characterizes the dispersion of values that could reasonably be attributed to a parameter.
  • Qualitative definition: A general term that refers to the lack of certainty in data and methodology choices, such as the application of non-­representative factors or methods, incomplete data on sources and sinks, or lack of transparency.