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

Share and dividend, to use newspaper and report on share and dividend

to use newspaper and report on share and dividend

Find the time required for an enlargement, 1. The polynomial G(x) = -0.006x...

1. The polynomial G(x) = -0.006x4 + 0.140x3 - 0.53x2 + 1.79x measures the concentration of a dye in the bloodstream x seconds after it is injected. Does the concentration increase

Solutions to systems, Now that we've found some of the fundamentals out of ...

Now that we've found some of the fundamentals out of the way for systems of differential equations it's time to start thinking about how to solve a system of differential equations

Find probabilities for the standard normal distribution, Q. Find Probabilit...

Q. Find Probabilities for the Standard Normal Distribution? Ans. Suppose the history teacher decides to distribute the final grades of his class with a normal distribution

Derive the hicksian demand function using indirect utility , (a) Derive the...

(a) Derive the Marshalian demand functions and the indirect utility function for the following utility function: u(x1, x2, x3) = x1 1/6 x2 1/6 x3 1/6    x1≥ 0, x2≥0,x3≥ 0

NUMERICAL PARTIAL DIFFERENTIAL EQUATIONS, Our objective is solve the follo...

Our objective is solve the following fourth-order BVP: (a(x)u'' )'' = f (x) u(0) = u(1)=0 u(0)' = u(1)'=0 (a) Give the variational formulation of the above BVP. (b) Describe the

Integers, The Dolphins football team gained 16 yards on their first play th...

The Dolphins football team gained 16 yards on their first play then lost 11 yards on the next play. Write an addition expression to represent this situation.Find the sum an explain

Homogeneous system , Provided a homogeneous system of equations (2), we wil...

Provided a homogeneous system of equations (2), we will have one of the two probabilities for the number of solutions. 1.   Accurately one solution, the trivial solution 2.

The quantity x + 6 is divided by negative four find number, Negative four i...

Negative four is multiplied through the quantity x + 8. If 6x is then added to this, the output is 2x + 32. What is the value of x? twice the quantity x + 6 is divided by negative

Identify the children strategies to solve maths problems, Here are four pro...

Here are four problems. Four children solved one problem each, as given below. Identify the strategies the children have used while solving them. a) 8 + 6 = 8 + 2 + 4 = 14 b)

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