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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.
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.