Question

Statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved.

Root-cause analysis
Scenario/what-if analysis
Graphic data analysis

Answer 1

What-if analysis is a statistical method used to test the effects of altering a strategy. It involves analyzing different scenarios and observing their impact on the outcome.

Step-by-step explanation:

What-if analysis is the statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved. It involves analyzing different scenarios or variations of a strategy and observing how they can impact the outcome. For example, in financial planning, a what-if analysis can be used to assess the potential outcomes of changing interest rates, inflation rates, or investment returns.