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lecture12

# lecture12 - Lecture Review of Differential Calculus Finding...

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Lecture 2/13/08 Review of Differential Calculus Finding and Classifying Maxima and Minima Application to Inventory Systems Introduction to Excel’s Solver

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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 .
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 .

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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
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lecture12 - Lecture Review of Differential Calculus Finding...

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