Question
Sensitivity Analysis
Answer :
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Sensitivity analysis is the study of how the uncertainty in the output of a mathematical model or system (numerical or otherwise) can be apportioned to different sources of uncertainty in its inputs. A related practice is uncertainty analysis, which has a greater focus on uncertainty quantification and propagation of uncertainty; ideally, uncertainty and sensitivity analysis should be run in tandem.
The process of recalculating outcomes under alternative assumptions to determine the impact of a variable under sensitivity analysis can be useful for a range of purposes, including:
- Testing the robustness of the results of a model or system in the presence of uncertainty.
- Increased understanding of the relationships between input and output variables in a system or model.
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