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Fixed-point accuracy analysis and optimization of polynomial data-flow graphs with respect to a reference model is a challenging task in many digital signal processing applications. Range and precision analysis are two important steps of this process to assign suitable integer and fractional bit-widths to the fixed-point variables and constant coefficients in a design such that no overflow occurs and a given error bound on maximum mismatch (MM) or mean-square-error (MSE) and signal-to-quantization-noise ratio (SQNR) is satisfied. This paper explores efficient optimization algorithms based on robust analyses of MM and MSE/SQNR for fixed-point polynomial data-flow graphs. Experimental results illustrate the robustness of our analyses and the efficiency of the optimization algorithms compared to previous work.