Calculus

Associate of Science Degree in Management Lecture 9 March 10, 2010

Contents
1 Optimization: Absolute Maxima and Minima 1.1 Absolute Maximum and Minimum on a Closed Interval . . . . . . . . . . . . . . . . 1 1

2 Optimization-Revenue and Prot

3 Curve-Sketching Techniques 3.1 Graphing Strategy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 4

1
1.1

Optimization: Absolute Maxima and Minima

Absolute Maximum and Minimum on a Closed Interval

Finding Absolute Max and Min values of a continuous function f on a closed interval [a,b].

Step 1. Find the critical values that are in the interval. Step 2. Evaluate f at the critical values and at the end points of the interval. Step 3. Absolute maximum is the largest value. Absolute minimum is the smallest value.

Note the following: f must be continuous on the closed interval Absolute extrema (if they exist) must occur at critical values or at the endpoints of the interval. EXAMPLE 1 Find absolute maximum and minimum for f (x) = 2x3 3x2 12x + 24 on [-3,4].

EXAMPLE 2 Find the absolute maximum and absolute minimum values of f (x) = x3 12x on the each of the following intervals: (a) [-5,5] (b) [-3,3] (c) [-3,1]

2 Special Case When there is only one critical value in the interval then the Second Derivative Test can be used to nd the Absolute max or min.

Using the Second Derivative Test for Absolute Extrema

Step 1. Find the critical values that are in the interval. Step 2. If there is only one critical value in the interval, then evaluate the second derivative at the critical value to test concavity. Determine whether f has a absolute max or min. Step 3. Evaluate f at the critical value to nd the absolute max or min value of the function.

EXAMPLE 3 Find the absolute min value of f (x) = 2x2 8x + 3 on the interval [-1,3].

The rst-derivative test must be used whenever f (c) = 0 or f (c) does not exist.

Optimization-Revenue and Prot

EXAMPLE 4 An oce supply company sells x mechanical pencils per year at $p per pencil. The price-demand equation for these pencils is p = 10 0.001x and the cost equation is C(x) = 5, 000 + 2x

(a) What price should the company charge for the pencils to maximize revenue? What is the maximum revenue? (b) What is the companys maximum prot? What should the company charge for each pencil, and how many pencils should be produced?

EXAMPLE 5 A company manufactures and sells x radios per week. If the weekly cost and price-demand equations are: C(x) = 90, 000 + 30x p = 300 x 30 0 x 9, 000

(a) Find the maximum revenue. (b) Find the maximum prot, the production level that will realize the maximum prot and the price that the company should charge for each radio to maximize prot.

Curve-Sketching Techniques

DEFINITION Given a function f a partition number is a value of x such that f is discontinuous at x and f (x) = 0. Partition numbers determine open intervals in which f (x) does not change sign.

3.1

Graphing Strategy

Step 1. Analyze f (x). (A) Find the domain of f . (B) Find the intercepts. (C) Find asymptotes. Step 2. Analyze f (x) Find the partition numbers and the critical values of f (x). Construct a sign chart for f (x) and determine the intervals on which f is increasing and decreasing and nd local maxima and minima. Step 3. Analyze f (x) Find the partition numbers of f (x). Construct a sign chart for f (x) and determine the intervals on which the graph is concave upward and concave downward and nd the inection points. Step 4. Sketch the graph of f Draw asymptotes and locate intercepts, local maxima and minima and inection points. Sketch in what you found from Steps 1-3. Plots additional points as needed and complete the sketch.

5 EXAMPLE 6 Use the graphing strategy to analyze the function f (x) = x1 x2

EXAMPLE 7 Use the graphing strategy to analyze the function g(x) = 2x 1 x2