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Dear sir, as I know sensitivity analysis is technique for analysing the uncertainty.Why the answer of Q32c in Mar/Jun 2017 said that it is a way of considering risk.Thank you.
The examiners explains this in the last sentence to this part of his answer 🙂
Thank you sir, but I do not understand
If sensitivity is not a way to consider risk (as the requirement of the question); it should not be discussed at first.
In stead of discussion on sensitivity at first; and at last, it said that however it is not to use to consider risk
Do you think so ?No. As the examiner writes in his answer, although strictly speaking sensitivity is more concerned with measuring the effect of uncertainty, risk and uncertainty are inter-connected. The smaller the sensitivity the more risk there is of the uncertainty affecting the decision.
I do say this in my free lectures.I wonder that if there is a multi choice question said that sensitivity analysis is technique for analyzing the risk. It is true or false ?
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