Uncertainty quantification is the science of quantitative characterization and reduction of uncertainties in both computational and real world applications. It tries to determine how likely certain outcomes are if some aspects of the system are not exactly known.

What is meant by the term aleatory uncertainty?

Aleatory uncertainty refers to the inherent uncertainty due to the probabilistic variability. This type of uncertainty is Irreducible, in that there will always be variability in the underlying variables. These uncertainties are characterized by a probability distribution.

What is the difference between aleatory uncertainty and epistemic uncertainty?

Epistemic uncertainty focuses attention on a single case that may occur (or a single statement that may be true) whereas aleatory uncertainty focuses attention on classes of possible outcomes in repeated realizations of an experiment.