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

Mensuration, if area of a rectangle is 27 sqmtr and it perimeter is 24 m fi...

if area of a rectangle is 27 sqmtr and it perimeter is 24 m find the length and breath#

Integration, why we study integration..?? uses

why we study integration..?? uses

The perimeter of a rectangle is 104 inches find out width, The perimeter of...

The perimeter of a rectangle is 104 inches. The width is 6 inches less than 3 times the length. Find out the width of the rectangle. Let l = the length of the rectangle and let

Describe a business, a. Write an exponential function that could model the ...

a. Write an exponential function that could model the information in this graph.   b. Describe a business, scientific (not mathematical), or economic situation for what thi

Differential equations, Verify Liouville''''s formula for y "-y" - y'''' + ...

Verify Liouville''''s formula for y "-y" - y'''' + y = 0 in (0, 1) ?

Ratio-categories of situations requiring division , Ratio - situations in ...

Ratio - situations in which we need to compare two quantities in terms of their ratio. (e.g., if Munna weighs 40 Kg. and Munni weighs 50 Kg., find the ratio of their weights.)

DECIMALS, the mass of a container is 5.81kg when full with sugar .the mass ...

the mass of a container is 5.81kg when full with sugar .the mass of container is 3.8kg when 3/8 of the sugar is removed.what is the mass of empty container

What is the net surface area to be painted, You are painting the surface of...

You are painting the surface of a silo that has a diameter of 16 ft and height of 50 ft. What is the net surface area to be painted? Consider the top of the silo is  1/2 a sphere

Algebra 1A, The m&m factory produces 2,500 packs of plain m&ms each day. R...

The m&m factory produces 2,500 packs of plain m&ms each day. Represent the total number of packs of plain m&ms the factory makes each day

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