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

DETERMINANT, IF 7 AND 2 ARE TWO ROOTS OF THE EQUATION |X 3 7 2 X 2 7 6 X...

IF 7 AND 2 ARE TWO ROOTS OF THE EQUATION |X 3 7 2 X 2 7 6 X |=0 THEN FIND THE THIRD ROOT IS

Properties of triangle, in a rhomus ABCD the circum radii of triangles ABD ...

in a rhomus ABCD the circum radii of triangles ABD and ACD are 12.5 cm and 25cm respetively then find the area of rhombus.

How much wrapping paper will needed, Barbara is packing a wedding gift that...

Barbara is packing a wedding gift that is contained within a rectangular box 20 by 18 by 4 in. How much wrapping paper will she require? a. 512 in 2 b. 1,440 in 2 c. 1,0

TRIGONOMETRY, EXPLAIN ME ABOUT ITS FUNCTIONS.

EXPLAIN ME ABOUT ITS FUNCTIONS.

Find solution to an equation or inequality, Illustrates that each of the fo...

Illustrates that each of the following numbers are solutions to the following equation or inequality. (a) x = 3 in x 2 - 9 = 0 (b) y = 8 in 3( y + 1) = 4 y - 5 Solution

Prove that 7cot - 3cosec = 3, If 7 cosec?-3cot? = 7, prove that 7cot? - 3co...

If 7 cosec?-3cot? = 7, prove that 7cot? - 3cosec? = 3. Ans:    7 Cosec?-2Cot?=7 P.T 7Cot? - 3 Cosec?=3 7 Cosec?-3Cot?=7 ⇒7Cosec?-7=3Cot? ⇒7(Cosec?-1)=3Cot? ⇒7(C

Customer arithmetics, what is $6500 jamaican dollars in european money if ...

what is $6500 jamaican dollars in european money if jamaican $160.13 = 1 european money

Course 2 chapter 1 ratios and propotional reasoning, find the unit rate. Ro...

find the unit rate. Round to the nearest hundredth in necessary 325 meters in 28 seconds

Solving whole number riddles, What is the answer for I am greater than 30 a...

What is the answer for I am greater than 30 and less than 40. The sum of my digits is less than 5.

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