The constantly evolving customer demands in the automotive industry necessitates vehicle manufacturers to perform ever more accurate acoustic simulations. Acoustic simulations especially in the mid-frequency range (400 Hz - 1000 Hz) pose particular challenges: statistical methods lack the necessary modal density for accuracy, while Finite Element Methods (FEM) have difficulty accounting for statistical effects. In order to resolve the conflict that FEM solvers face, an academic case is investigated. A flat plate of 650x 750 mm in free-free condition is examined as a low-complexity platform to investigate the sensitivity of FEM simulation results to parameters, such as the value of structural damping, the frequency dependency of structural damping as well as the variations in the plate thickness due to manufacturing tolerances. FEM simulations were performed using ESI VPS and compared to measurements. Results show that slight variations in plate thickness and Young`s modulus can have significant impact on the frequency response. Results have shown that a 0.5% variation in the thickness already has a pronounced effect on frequency response peak locations, especially between 600 and 1000 Hz. Beside this, the paper provides novel results on evaluating the effects of frequency dependency of structural damping on the results.