This paper discusses various strategies for probabilistic analysis, with a focus on typical engineering applications. The emphasis is on sampling methods and sensitivity analysis. A new sampling method, Latinized particle sampling, is introduced and compared to existing sampling methods. While it can increase the quality of surrogate models, an optimized Latin hypercube sampling is mostly preferable as it shows slightly better results. In sensitivity analysis, the difficulty lies in correlated input variables, which are typical in engineering applications. First, the Sobol indices and the Shapley values are explained using an intuitive example. Then, the modified coefficient of importance is introduced as a new sensitivity measure, which can be used to reliably identify input variables without functional influence. Finally, these results are applied to a turbomachinery test case. In this case, the flow field of a compressor row is investigated, where the blades are subjected to geometric variability. The profile parameters used to describe the geometric variability are correlated. It is shown that the variability of the maximum camber and the thickness of the leading edge have a decisive influence on the variability of the isentropic efficiency.