SEMIS CHAP 7 SEN 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.

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

involves changing
one factor at a time
and observing how
it affects the
outcome.

Answer 4

One-way analysis

Question 5

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

Answer 5

Scenario analysis

Question 6

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 6

Monte Carlo

Question 7

is derivative based (numerical or analytical)

Answer 7

Local Sensitivity Analysis

Question 8

This method is for simple cost functions, but not
feasible for complex models.

Answer 8

Local Sensitivity Analysis

Question 9

The term ____ indicates
that the derivatives are taken at a single point.

Answer 9

Local

Question 10

often implemented using Monte Carlo techniques. This approach uses a global set of samples to explore the design space.

Answer 10

Global Sensitivity Analysis

Question 11

Sensitivity analysis helps in understanding which
variables or factors have the most impact on the outcome or results.

Answer 11

Identifies key driver

Question 12

Sensitivity analysis helps in assessing the level of risk and uncertainty associated with the project or decision

Answer 12

Evaluates risk and uncertainty

Question 13

Sensitivity analysis aids in developing robust plans by considering multiple scenarios and variations, ensuring that plans can adapt to different possible outcome

Answer 13

Supports effective planning

Question 14

Sensitivity analysis relies on assumptions that may not accurately represent the real-world complexity and dynamics, potentially
leading to biased or incomplete result

Answer 14

Assumption limitations:

Question 15

Sensitivity analysis requires reliable data, and if the data
is insufficient or of poor quality, the analysis may produce unreliable or
misleading outcomes.

Answer 15

Data requirements:

Question 16

Conducting sensitivity analysis can be time-consuming and
resource-intensive, especially with complex models or numerous variables.

Answer 16

Time-consuming:

Question 17

is one of the tools that help decision
makers with more than a solution to a problem.

Answer 17

Sensitivity analysis