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1.2 KiB
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Uncertainty |
Uncertainty
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The term "uncertainty" refers to the possibility of multiple outcomes.
Information
In statistical inference and strategy, information is the resolution of uncertainty.
Types of Uncertainty
Aleatory Uncertainty
[!info] Also Known As
- statistical uncertainty
- stochastic uncertainty
- random error
Aleatory uncertainty is inherent randomness in data that can't be explained away.
Epistemic Uncertainty
[!info] Also Known As
- systematic uncertainty
- model uncertainty
Epistemic uncertainty is that which arises from a lack of knowledge, and can be eliminated with access to #information.
Under Bayesian statistics, all uncertainty is epistemic.