An Introduction to Nearly Optimal Programming: An Extension of Sensitivity Analysis in Linear Programming

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Published by Project Innovation Inc. in Education, volume 114 issue 2, 1993. Bryant users may access this article here.

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Linear Programming (L.P) is one of the most widely used mathematical tools in quantitative analysis. One aspect of LP that is typically not discussed in textbooks is Nearly Optimal Programming (NOP), which is a form of sensitivity analysis. This is a method to generate solutions that are close to the optimal value for the objective function. but are different from the optimal solution with respect to the values for the decision variables. A small land use LP model is presented here to illustrate the formulation and use of NOP models.