analysis that determines how changing one input will affect an outcome variable.
Question
Analysis that determines how changing one input will affect an outcome variable.
Solution
The text you provided seems to be referring to Sensitivity Analysis. Here's a step-by-step explanation:
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Identify the Input and Output: The first step in sensitivity analysis is to identify the input that will be changed and the outcome variable that will be observed. The input could be any factor that might influence the outcome, such as a parameter in a mathematical model, a policy decision in a business scenario, or a variable in a scientific experiment. The outcome is the result that you are interested in.
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Change the Input: The next step is to change the input. This could involve increasing or decreasing the value of the input, or it could involve changing the input in some other way. The change should be realistic and meaningful, based on the context of the analysis.
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Observe the Outcome: After changing the input, the next step is to observe how the outcome variable is affected. This could involve running a simulation, conducting an experiment, or performing some other type of analysis.
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Analyze the Results: The final step in sensitivity analysis is to analyze the results. This involves comparing the outcome with the input change to see if there is a significant effect. If the outcome variable changes significantly when the input is changed, then the system is said to be sensitive to that input.
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Repeat the Process: Sensitivity analysis is often an iterative process. After analyzing the results,
Similar Questions
analysis evaluates how changing multiple inputs at the same time will affect an outcome variable.
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