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What Is Sensitivity Analysis in the Context of Uncertainty

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What is sensitivity analysis in the context of uncertainty?


Definitions:

Data Analysis

The process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making.

Probability

A measure of the likelihood or chance that a particular event will occur, expressed as a number between 0 and 1.

Null Hypothesis

A default hypothesis that there is no significant difference or effect, used as a starting point for statistical testing.

Region of Rejection

The range of values in a statistical test for which the null hypothesis is rejected.

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