Testing How a Problem Solution Reacts to Changes in One

question 39

Multiple Choice

Testing how a problem solution reacts to changes in one or more of the model parameters is called:

• A) analysis of tradeoffs.
• B) sensitivity analysis.
• C) priority recognition.
• D) analysis of variance.
• E) decision analysis.

Identify the relationship between marginal benefit, marginal cost, and the maximization of total benefits.

Assess the effect of external changes (such as price changes or external costs) on the perceived benefits and costs associated with an activity.

Distinguish between constant, increasing, and decreasing marginal costs and benefits.

Calculate total profit or benefit given data on marginal costs and benefits.

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Definitions:

Main Pressure

Refers to the primary pressure within a system, such as the hydraulic pressure in an automotive braking system or the main air pressure in a compressed air system.

Within Specification

The state of an item or system operating or existing within the set limits defined by the manufacturer or industry standards.

Clutch Control

The mechanism or system that engages or disengages the engine from the drivetrain in a manual transmission vehicle.

Caterpillar CX

A series of industrial power transmission components, such as heavy-duty automatic transmissions, made by Caterpillar Inc. for various applications.