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13 July, 13:30

Match the correct term to the definition. What-if Analysis Sensitivity Analysis Goal seeking analysis Optimization Analysis A. A special case of what-if analysis, is the study of the impact on other variables when one variable is changed repeatedly. B. Finds the input necessary to achieve a goal such as a desired level of output. C. An extension of goal-seeking analysis, finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints. D. Checks the impact of a change in a variable or assumptions on the model.

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  1. 13 July, 13:51
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    What-if Analysis-

    A. A special case of what-if analysis, is the study of the impact on other variables when one variable is changed repeatedly.

    Sensitivity analysis - D. Checks the impact of a change in a variable or assumptions on the model.

    Goal seeking analysis - B. Finds the input necessary to achieve a goal such as a desired level of output

    Optimization Analysis - C. An extension of goal-seeking analysis, finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints.

    Explanation:

    The above are all related in some way; all connected to the what if analysis. What if analysis measures the change in target variables as a result of repeated change (hence the needed what if analysis) in variables or scenarios in a business case for instance. For example a change in information for a marketing strategy to see how it affects profit or market success. Sensitivity analysis is a form of what if analysis and the example above could also apply. We could also see how goal and optimization analysis come in here.
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