Interval estimation of a global optimum for large combinatorial problems

Bruce L. Golden and Frank B. Alt

Naval Research Logistics Quarterly, 1979, vol. 26, issue 1, 69-77

Abstract: Consider an “intractable” optimization problem for which no efficient solution technique exists. Given a systematic procedure for generating independent heuristic solutions, we seek to obtain interval estimates for the globally optimal solution using statistical inference. In previous work, accurate point estimates have been derived. Determining interval estimates, however, is a considerably more difficult task. In this paper, we develop straightforward procedures which compute confidence intervals efficiently in order to evaluate heuristic solutions and assess deviations from optimality. The strategy presented is applicable to a host of combinatorial optimization problems. The assumptions of our model, along with computational experience, are discussed.

Date: 1979
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:26:y:1979:i:1:p:69-77

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