Tornado diagrams are a special type sensitivity analysis graph, where the simulated variables are ordered from top to bottom according to the isolated impact that a given input variable has over the output variables. The bigger the bar, the bigger is the variance compared with the base case scenario represented as a vertical line.
Spider graphs are very useful for sensitivity analysis when evaluating and comparing the isolated percentage increments of independent variables over output variables. Those percent increments are always referred to the baseline input values placed at the 0% increment point. Lines with more accentuated slopes represent the input variables with higher variability over the output variables.
The sensitivity matrix illustrates a qualitative measure of risk in the two-dimension space. The sensitivity matrix shows the output variable calculation resulted by the combined values of any two chosen input variables, as defined at the sensitivity model. The matrix is coloured from green to red, to represent areas where the range of input values […]
Cumulative distribution (CDF) is a function that provides the probability that a random variable is less than or equal to a given limit value. When an output variable is plotted in a CDF, we can promptly read at the vertical axis the corresponding probability of such variable being below a given value. Conversely, we can […]