Sensitivity Analysis

Sensitivity Analysis

Variables

In the scenario pertaining to Smith family reunion, the dependent and independent variables are:

Rented of the pavilion is the dependent variable;

Weather condition is the independent variable.

One Parameter Analysis

In view of case, the weather condition is the decisive factor that whether shelter should be rented for the Smith family reunion or not. This process of decision making entails the identification of key values of probable conditions of weather that it may be rainy or cool day, establishes break even values or thresholds of optimal strategy changes. One of the methods used in the analysis of project risks is a sensitivity ...