This is aleatory (inherent randomness) vs. epistemic (knowledge) uncertainty. You can parse this as uncertainty inherent in the parameters vs. uncertainty inherent in your estimates of the parameters / the parameterization of the model.
This is a very important distinction that has received treatment in the prediction literature but, indeed, is not applied enough to interpreting others’ predictions among laypeople.
This is aleatory (inherent randomness) vs. epistemic (knowledge) uncertainty. You can parse this as uncertainty inherent in the parameters vs. uncertainty inherent in your estimates of the parameters / the parameterization of the model.
This is a very important distinction that has received treatment in the prediction literature but, indeed, is not applied enough to interpreting others’ predictions among laypeople.