uncertainties - Concepts

Explore concepts tagged with "uncertainties"

Total concepts: 6

Concepts

Black Swan - A rare, unpredictable event with major impact that is rationalized in hindsight.
Confidence Interval - A range of values that likely contains the true population parameter with a specified probability.
Fat Tails - Probability distributions where extreme events occur more frequently than normal distributions predict.
Optionality - The strategic practice of keeping options open to benefit from uncertainty and unexpected opportunities.
Unknown Unknowns - The category of things we don't know we don't know, representing the most challenging type of uncertainty in decision-making.
Variance - A measure of the spread of values, calculated as the average squared deviation from the mean.