Uncertainty is the situation which involves imperfect and / or unknown information. In other words it is a term used in subtly different ways in a number of fields, including
insurance,
philosophy,
physics,
statistics,
economics,
finance,
psychology,
sociology,
engineering,
metrology, 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.