lecture12 - Lecture 2/13/08 Review of Differential Calculus...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Lecture 2/13/08 Review of Differential Calculus Finding and Classifying Maxima and Minima Application to Inventory Systems Introduction to Excel’s Solver
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Calculus Review: 5. Maxima and Minima A function f(x) has an absolute maximum at x 0 if f(x 0 ) f(x) for all x in the domain of f. A similar definition for absolute minimum with the inequality sign reversed. A function f(x) has a relative maximum ( relative minimum ) at x 0 if there is an interval I, centered at x 0 , in which f has an absolute maximum (absolute mimimum) at x 0 .
Background image of page 2
Calculus Review: 5a. Maxima and Minima Tests If f has a relative maximum or minimum at x 0 then f ´(x 0 ) = 0. If f´´(x 0 ) < 0, then f has a relative maximum at x 0 . If f´´(x 0 ) > 0, then f has a relative minimum at x 0 . If f´´(x 0 ) = 0, then f has an inflection point at x 0 .
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Inventory Example The Williams Retail Company purchases 8000 units of a product each year at unit cost of $10 and sells each unit at $20. The order cost is $30 per order and the storage cost is $3 per unit per year. For this product the
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 9

lecture12 - Lecture 2/13/08 Review of Differential Calculus...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online