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1314L14 - Lesson 14 Optimization Now youll work some...

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Lesson 14 - Optimization 1 Lesson 14 Optimization Now you’ll work some problems where the objective is to optimize a function. That means you want to make it as large as possible or as small as possible depending on the problem. In many problems, you’ll state the domain before you work the problem. Once you have the function and its domain, you’ll find the critical points and see if the critical point(s) fall within the domain of the function. You can also use the second derivative test to verify that you have an absolute max or an absolute min in many problems. Example 1: A company that produces digital cameras wants to minimize its production costs. They estimate that their total monthly cost for producing the camera is given by 10000 x 80 2 x 0025 . 0 ) x ( C + + = . Find the average cost function. Find the level of production that results in the smallest average production cost. Use the second derivative test to verify that you have found a minimum cost.
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Lesson 14 - Optimization 2
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