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Learning Goal: I’m working on a health & medical question and need an explanation and answer to help me learn.
In your own words, describe what a Sensitivity Analysis is and why you would do one. Then, using the problem below describe what information a sensitivity analysis will provide you about your variables. Use your made-up definition of the variables to help your result have more meaning. For example, you can constrain the number of production hours which would reduce the number of items being manufactured.
A
school intends to transport 400 pupils to an event. The institution has ten
large buses carrying 50 passengers and eight small buses carrying 40
passengers. The total cost of renting a large and small bus is $800 and $600.
Also, the institution has nine drivers. The goal is to minimise the costs while
determining the buses required.