Sensitivity Analysis Can Be Used to Determine How Changes in Variables

question 11

True/False

Sensitivity analysis can be used to determine how changes in variables will impact target profit.

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Definitions:

Weber Fraction

A principle stating that the smallest change in a stimulus that can be detected is a constant proportion of the starting level of that stimulus.

Difference Threshold

The smallest change in stimulation that can be noticed by an individual half of the time, also referred to as the "just noticeable difference" (JND).

Applied Of Fechner's Law

The practical application of Fechner's principle, which relates the intensity of a physical stimulus to the intensity of the sensation it produces.

Weber Fraction

A psychological principle that quantifies the perception of change in a given stimulus proportionate to the original intensity of the stimulus.