The risk measurement approach that examines the impact of a change in the value of a variable on a selected outcome variable, assuming all other variables are held constant is known as sensitivity Analysis.
<h3>What is meant by sensitivity analysis?</h3>
Sensitivity analysis is the study of how different sources of input uncertainty can be split and assigned to the output uncertainty of a mathematical model or system.
Sensitivity analysis is a type of financial model that assesses the impact of changes in input variables on target variables. This model is also known as a simulation analysis or a what-if model. It is a technique for forecasting a decision's outcome given a set of relevant factors.
Sensitivity Analysis is a method of risk measurement that considers the effects of changing one variable's value on a particular outcome variable while maintaining the same values for all other variables.
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Answer:
Coordination of benefits
Explanation:
When someone has 2 different health policies from 2 different insurance companies, both policies must work together and that is called Coordination of Benefits.
In case of a married couple, where the wife is insured by both her employer and her husband's health policy, the primary insurer is the wife's employer. The husband's health insurance will provide the secondary coverage.
The secondary insurer kicks in when medical are not fully paid by the primary insurer, and they must pay their share depending on their coverage.
Answer:
Best effort
Explanation:
Protocols are the methods by which data is transferred in a network. These can be in different categories depending on user requirements and cost the user is willing to incur.
The best effort protocol is a network that does not guarantee efficient data a delivery and quality of delivery is not required to meet any quality of service.
For example network dealt and occurrence of packet loss will rely on how congested the network is.
It offers no built-in error-checking or retransmission capability uses.
The opposite of this is reliable delivery that ensures a level of quality service.
Answer:
- What is the estimated total audited value of the population using the difference method?
c. $201,000.
Explanation:
The difference method works as follows:
We have a popuation of 1,000 accounts .
The sample items have a mean book of $200 and a mean audited value of $203
We have a difference of $3
This difference it's applied to the population of accounts and we get a value of $3,000 (1,000 accounts * $3)
As the book value in the population it's $198,000, we add the difference previously calculated of $3,000
So, we have $198,000 + $3,000 = $201,000
Answer:
a) Only hiring workers who have earned good grades in college.
Explanation:
The Marginal Productivity theory defines as change in revenue of a business resulting due to employment of one additional labor.
This theory has many assumptions that perfect competition prevails in the market. All workers have same abilities and skills. Productivity of labors can be measured accurately. Every unit is homogeneous etc.
To overcome this information problem a firm should hire only workers who have earn good grades in college. It assumes that these workers will have greater skills and will contribute in revenue contribution to the organization.