The process and instrumentation diagram for a feedback control strategy to maintain the level (h) of a liquid by regulating a valve (V) is shown. The manipulating variable(s) is/are: 
Step 1: Identify controlled and manipulated variables.
The liquid level in the tank is to be maintained. Thus, the manipulated variable should influence the inflow or outflow. In this system, the controller sends a signal to the valve \(V\), which controls the inlet flow rate \(F_1\). Therefore, the manipulated variable is \(F_1\).
Step 2: Check other options.
- \(F_2\) is the outlet flow, but it is not being controlled by the feedback loop. Hence Option (B) is incorrect.
- \(h_m\) is the measured value and cannot be manipulated. It is an input to the controller.
- \(P_V\) is a control signal to the valve but is not the process variable being manipulated; the physical quantity being changed is \(F_1\), not the valve pressure.
- \(h_{sp}\) is the setpoint, not a manipulated variable.
Step 3: Conclusion.
The only true manipulated variable in this feedback system is the inlet flow rate \(F_1\).