In sensitivity analysis, what is the range of optimality for a coefficient in the objective function?
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In sensitivity analysis, the range of optimality for a coefficient in the objective function is the range of values over which the current optimal solution remains unchanged.
In sensitivity analysis, the range of optimality for a coefficient in the objective function refers to the range of values that a specific coefficient can take without altering the current optimal solution of a Linear Programming (LP) problem. Within this range, the optimal solution remains valid, meaning that the same decision variable set continues to yield the best objective function value.
The range of values that a coefficient in the objective function can take without altering the choice variables of the current optimal solution is known as the range of optimality in sensitivity analysis. While the objective function's value may rise or fall in response to variations in the coefficient, the optimal solution stays constant within this range. The ideal solution might change to a new set of choice variables, though, if the coefficient deviates from this range. Understanding the optimal solution's sensitivity to modifications in the objective function's parameters is made easier by the range of optimality.