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

Real analysis, .find lim sup Ek and liminf Ek of Ek=[(-(1/k),1] for k odd a...

.find lim sup Ek and liminf Ek of Ek=[(-(1/k),1] for k odd and liminf Ek=[(-1,(1/k)] for k even

Progressions, The sum of the series 1+1/2+1/4+......is

The sum of the series 1+1/2+1/4+......is

Mdm4uc, The number of hours spent studying and achievement on an exam

The number of hours spent studying and achievement on an exam

Fractions, If i worked 7 1/3 hours and planted 11 trees how many hours did ...

If i worked 7 1/3 hours and planted 11 trees how many hours did it take to plant each tree?

Build an equation for a hyperboloid of two sheets, 1. Build an equation for...

1. Build an equation for a hyperboloid of two sheets with the following properties: a. The central axis of the hyperboloid is the y-axis b. The two sheets are 4 units apart, an

What is identities and contradictions, What is Identities and Contradiction...

What is Identities and Contradictions ? Look at this equation: x + 1 = 1 + x It happens to be true always, no matter what the value of x. (Try it out! What if x is 43?)

Definition of relation, Definition of Relation A relation is a set of o...

Definition of Relation A relation is a set of ordered pairs. It seems like an odd definition however we'll require it for the definition of a function though, before actuall

Proof f(x) + g(x) dx = f(x) dx + g(x) dx anti-derivation, Proof of: ...

Proof of: ∫ f(x) + g(x) dx = ∫ f(x) dx + ∫g(x) dx It is also a very easy proof. Assume that F(x) is an anti-derivative of f(x) and that G(x) is an anti-derivative of

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