Unsteady flows are commonly observed in nature, often associated with the presence of a mixture of air and water. Twophase flow measurements in unsteady flows require multiple repetitions and analysis in terms of ensemble statistics to compensate the lack of long-duration measurements. Based on an extensive experimental program, this paper presents a series of detailed sensitivity analyses in terms of the number of repetitions needed for a reliable estimation of a few key airwater flow properties, including the number of interfaces and the void fraction. A statistically-based methodology is also presented to estimate the error, and discussed. These results will assist future research and practitioners to further investigate the physical properties of unsteady multiphase gas-liquid flows.