# ps1 - BAYLOR UNIVERSITY HANKAMER SCHOOL OF BUSINESS...

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B AYLOR U NIVERSITY H ANKAMER S CHOOL OF B USINESS D EPARTMENT OF F INANCE , I NSURANCE & R EAL E STATE Dr. Garven Name _____________________ Problem Set #1 1. Determine the first derivative of each of the following functions: a. 2 3 10 5 Y X X b. 3 2 (4 ) Y X X c. 3 3 /(4 ) Y X X d. 4 /( 3) Y X X 2. Determine the second derivative of the following functions: a. Y X X 2 4 9 3 b. ( ) Y X X 2 4 3 c. ( ) Y X X 3 4 2 d. / Y X 4 3 3. Find the partial derivative of Y with respect to X and the partial derivative of Y with respect to Z in each of the following cases: a. 10 3 2 Y Z X b. 2 3 18 4 Y Z X c. 0.2 0.8 Y Z X d. 3 /(4 ) Y Z X 4. One very important question facing hospitals is this: How big must a hospital be (in terms of patient- days of care) to minimize the cost per patient-day?
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