jubilation vs affair

jubilation and affair both are nouns.

Word	Noun	Adjective	Verb	Adverb
jubilation	Yes	No	No	No
affair	Yes	No	No	No

As nouns, affair is a hypernym of jubilation; that is, affair is a word with a broader meaning than jubilation:

jubilation: a joyful occasion for special festivities to mark some happy event
affair: a formal or official social gathering or ceremony of people

Other hypernyms of jubilation include function, occasion, social affair, social function, social gathering, social occasion.

jubilation (noun)	affair (noun)
the utterance of sounds expressing great joy	a vaguely specified concern
a joyful occasion for special festivities to mark some happy event	a formal or official social gathering or ceremony of people
a feeling of extreme joy	a usually secretive or illicit sexual relationship