Semi Fi: G7: Sensitivity Analysis

Question 1

An analysis technique that works on the basis of what if analysis like how independent factors can affect the dependent factor and is used to predict the outcome when analysis is performed under certain conditions

Answer 1

Sensitivity analysis

Question 2

Is the simplest method of sensitivity analysis. It involves changing one factor at a time, and observing how it affects the outcome.

Answer 2

One-way analysis

Question 3

Is a variation of one-way analysis that allows you to change two factors at the same time, and observe how they affect the outcome

Answer 3

Two-way analysis

Question 4

Is a method of sensitivity analysis that involves creating scenarios based on different combinations of factors and assumptions

Answer 4

Scenario analysis

Question 5

Is a method of sensitivity analysis that uses random sampling and simulation to generate many possible outcomes based on the inputs and their probability distributions

Answer 5

Monte Carlo analysis

Question 6

Is derivative based (numerical or analytical). The term local indicates that the derivatives are taken at a single point. This method is for simple cost functions, but not feasible for complex models.

Answer 6

Local sensitivity analysis

Question 7

Is the second approach to sensitivity analysis, often implemented using Monte carlo techniques. This approach uses a global set of samples to explore the design space.

Answer 7

Global sensitivity analysis