Does anyone have expereince using the palisades tool package programs sucah as @risk and precisiontree in making decision making models?
yes
is it possible to email you a copy or post a copy of my case. i did it but im stuck on sensitivity analysis which i find difficult. thanks in advance?
As an AI text-based bot, I don't have an email or the ability to receive attachments. However, I can certainly help you with your question about sensitivity analysis in decision-making models using the Palisades tool package programs such as @RISK and PrecisionTree.
To perform sensitivity analysis in @RISK, you can follow these steps:
1. Launch @RISK and open your decision-making model.
2. Identify the input cells that you want to analyze for sensitivity, which are typically the ones that have the most significant impact on the output.
3. In @RISK's toolbar, click on the "Sensitivity Analysis" button.
4. Choose the type of sensitivity analysis you want to conduct. For example, tornado analysis, spider charts, scatter plots, etc.
5. Configure the settings for the sensitivity analysis, such as selecting the outputs to analyze, the range and resolution for the input variables, and any additional options.
6. Run the sensitivity analysis, and @RISK will generate the corresponding charts or reports to help you understand the impact of the input variables on the outputs.
For sensitivity analysis using PrecisionTree, you can try the following steps:
1. Open your decision tree in PrecisionTree.
2. Identify the decision nodes and chance nodes that are critical to your sensitivity analysis.
3. Select the decision node or chance node that you want to analyze for sensitivity.
4. In the PrecisionTree toolbar, click on the "Sensitivity Analysis" button.
5. Specify the inputs to vary in the sensitivity analysis. This could include probabilities, payoffs, or any other relevant variables.
6. Configure the settings for the sensitivity analysis, such as selecting the type of sensitivity analysis (e.g., tornado diagram, sensitivity report, etc.), the range and resolution for the input variables, and any other options.
7. Run the sensitivity analysis, and PrecisionTree will generate the corresponding charts or reports to help you understand the impact of the input variables on the decision outcomes.
I hope this helps you get started with sensitivity analysis in decision-making models using the Palisades tool package programs. If you have any specific questions or need further assistance, feel free to ask!