Use the Table Below to Answer the Following Question(s) -________ Is the Term Used by Risk Solver Platform for the Spreadsheet

question 29

Multiple Choice

Use the table below to answer the following question(s) .
In the spreadsheet below, there is data on the price, demand, quantity produced, and cost for an item.There are also different "what if" values that can help a manager to calculate costs and revenue with variability in demand.
$$\begin{array} { | l | l | l | l | } \hline 1 & \text { A } & \text { B } & \text { C } \\\hline \hline & \text { Profit Model } & & \\\hline 3 & & & \\\hline 3 & \text { Data } & & \begin{array} { l } \text { What-If Demand } \\\text { Values }\end{array} \\\hline 4 & & & 20,000 \\\hline 5 & \text { Unit Price (\$) } & 50 & 40,000 \\\hline 6 & \text { Unit Cost (\$) } & 25 & 55,000 \\\hline 7 & \text { Fixed Cost (\$) } & 550,000 & 60,000 \\\hline 8 & \text { Demand } & 60,000 & 65,000 \\\hline 9 & \text { Quantity Produced } & 55,000 & \\\hline 10 & & & \\\hline\end{array}$$
-________ is the term used by Risk Solver Platform for systematic methods of "what-if" study.

• A)Scenario
• B)Validity
• C)Parametric sensitivity analysis
• D)Goal Seek

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Definitions:

Process Range Chart

A control chart that monitors the dispersion or variability of a process, helping to ensure a process is stable and predictable over time.

Variation

Variation refers to the degree of change or difference in a condition or process, often analyzed to improve quality and performance in manufacturing.

Statistical Process Control

A method of quality control which uses statistical methods to monitor and control a process.