What are the applications of sensitivity analysis?
An example of an AI chatbot conversation about applications of sensitivity analysis.
What are the applications of sensitivity analysis?
Sensitivity analysis is used in various fields like finance, engineering, and environmental science to assess how different variables impact outcomes.
Can you give me an example in finance?
Sure! In finance, sensitivity analysis helps investors understand how changes in interest rates affect the value of their investments.
What about its use in engineering?
In engineering, sensitivity analysis is used to determine how variations in design parameters influence the performance of a system.
Are there any limitations to sensitivity analysis?
Yes, sensitivity analysis can be limited by the assumptions made in the model and may not account for all real-world complexities.
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