Ultrasonic wave propagation in human cancellous bone is considered. Reflection and transmission coefficients are derived for a slab of cancellous bone having an elastic frame using Biot's theory modified by the model of Johnson et al. for viscous exchange between fluid and structure. Numerical simulations of transmitted waves in the time domain are worked out by varying the modified Biot parameters. The variation is applied to the governing parameters and is about 20%. From this study, we can gain an insight into the sensitivity of each physical parameter used in this theory. Some parameters play an important role in slow-wave wave form, such as the viscous characteristic length and pore fluid bulk modulus. However, other parameters play an important role in the fast-wave wave form, such as solid density and shear modulus. We also note from these simulations that some parameters such as porosity, tortuosity, thickness, solid bulk modulus, and skeletal compressibility frame, play an important role simultaneously in both fast and slow wave forms compared to other parameters which act on the wave form of just one of the two waves. The sensitivity of the modified Biot parameters with respect to the transmitted wave depends strongly on the coupling between the solid and fluid phases of the cancellous bone. Experimental results for slow and fast waves transmitted through human cancellous bone samples are given and compared with theoretical predictions.