uncertainty and variability

How are Uncertainty and Variability Quantified?

Quantifying these factors involves several methods:
1. Statistical Analysis: Statistical tools are used to quantify variability and identify the range of possible outcomes.
2. Monte Carlo Simulations: These simulations use random sampling to explore the range of possible outcomes and quantify uncertainty.
3. Sensitivity Analysis: This method identifies how sensitive the outcomes are to changes in various input parameters, helping to quantify uncertainty.

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