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| Author: | Eschenbach, T. G. McKeague, L. S. |
| Title: | Exposition on using graphs for sensitivity analysis. |
| Journal: | Engineering Economist
1989 : SUMMER, VOL. 34:4, p. 315-333 |
| Index terms: | SENSITIVITY ANALYSIS GRAPHS ECONOMIC ANALYSIS COMPUTERS DECISION MAKING |
| Language: | eng |
| Abstract: | Economic analysis, supported by computer hardware and software, can easily overwhelm a decision maker with data. However, this data can be organized in a readily understandable way using well-designed graphs. Some simple guidelines suggest substantial improvements over available examples from papers and textbooks. Although these graphs and sensitivity analyses are useful in many quantitative problems, the long-range focus of engineering economy and its concomitant uncertainty dramatically increase their value. The proposed way of sensitivity analysis can improve decision making, point out needed refinements in data estimates, and focus managerial attention. Figures illustrate the varied possibilities of sensitivity analysis. |
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