Optimization, Mathematics

Assignment Help:

Optimization is required in situations that frequently arise in finance and other areas. Organizations would like to maximize their profits or minimize their costs at a given level of output. An individual would like to maximize his utility when choosing investment alternatives. If we have a mathematical function, then we can find a solution to the optimization problem using calculus.

Of all the higher order derivatives, the second order derivative is of special interest in problems of optimization.

The first derivative of a function, f'x is the slope of the function f(x), or the rate of change in the value of f(x) per unit change in x. Similarly the second derivative, f''x is the slope of the function f'x or the rate of change in the value of f'x per unit change in x, which is the rate of change of the original function f(x).

The following figures and table show various combinations of signs of f'x and f''x and the implied slope of the graph of f(x).

781_optimization.png

  f'x

  f''x

f(x) is


positive

positive

increasing at an increasing rate

positive

negative

increasing at a decreasing rate

negative

positive

decreasing at an increasing rate

negative

negative

decreasing at a decreasing rate                                          


Related Discussions:- Optimization

Find the interval of validity for the solution, Solve the subsequent IVP an...

Solve the subsequent IVP and find the interval of validity for the solution xyy' + 4x 2 + y 2 = 0,       y(2) = -7,          x > 0 Solution: Let's first divide on both

first person drawn was named the class president, Consider a class of 55 s...

Consider a class of 55 students. The student names are placed in a hat & 3 names are randomly drawn without replacement. a)     If the first person drawn was named the class presi

Arc length with parametric equations, Arc Length with Parametric Equations ...

Arc Length with Parametric Equations In the earlier sections we have looked at a couple of Calculus I topics in terms of parametric equations.  We now require to look at a para

Estimate the area between f ( x ) =x3 - 5x2 + 6 x + 5, Estimate the area be...

Estimate the area between f ( x ) =x 3 - 5x 2 + 6 x + 5 and the x-axis by using n = 5 subintervals & all three cases above for the heights of each of the rectangle. Solution

Lorie, A bourbon that is 51 proof is 25.5% alcohol by volume while one that...

A bourbon that is 51 proof is 25.5% alcohol by volume while one that is 82 proof is 41% alcohol. How many liters of 51 proof bourbon must be mixed with 1.0 liter of 82 proof bourbo

Pre Calculus, I have no idea how to graph exponential forms.

I have no idea how to graph exponential forms.

Find out the dimensions of the field-optimization, We have to enclose a fie...

We have to enclose a field along with a fence. We contain 500 feet of fencing material & a building is on one side of the field & thus won't require any fencing.  Find out the dime

How many points did he score during his senior year, Michael scored 260 poi...

Michael scored 260 points during his junior year on the school basketball team. He scored 20% more points during his senior year. How many points did he score during his senior yea

Determine the equation of the tangent line, Determine the equation of the t...

Determine the equation of the tangent line to r = 3 + 8 sinθ at θ = Π/6. Solution We'll first need the subsequent derivative. dr/dθ = 8 cosθ The formula for the deriv

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd