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4.7 Optimization Problems

Sfu math 150/151 unfilled notes year 2024/2025

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trinitytadros
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4 views

4.7 Optimization Problems

Sfu math 150/151 unfilled notes year 2024/2025

Uploaded by

trinitytadros
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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4.

7 Optimization Problems
Optimization is a term that may refer to:
 Finding abs. maximum/minimum of a function - mathematics
 Finding best possible solutions – practical applications
(require converting to a math model simulating the problem
and solving math optimization problem)

STEPS IN SOLVING OPTIMIZATION PROBLEMS


1. Read and understand the problem
2. Draw a diagram
3. Introduce notation
4. Express the function q that should be optimized, in terms of the
introduced variables
5. Express q in terms of one variable and write its domain
6. Find the absolute max./min. value of q (closed interval or open
interval approach).

Ex.1. A farmer has 2400 ft of fencing and wants to fence off a


rectangular field that borders a straight river. He needs no fence
along the river. What are the dimensions of the field that has the
largest area?

Here are three possible ways of laying out the 2400 ft of fencing.

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Ex.2. A cylindrical can is to be made to hold 1 L of oil. Find the
dimensions that will minimize the cost of the metal to manufacture
the can.
To minimize the cost of the metal, we
minimize the total surface area of the
cylinder (top, bottom, and sides.) So
we must find such radius r and height h
that the surface area A attains its min.

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FIRST DERIVATIVE TEST FOR ABSOLUTE
EXTREME VALUES (UNRESTRICTED DOMAIN)
Suppose that c is a critical number of a continuous function
f defined on an interval.
a. If f’(x) > 0 for all x < c and f’(x) < 0 for all x > c, then
f(c) is the absolute maximum value of f.
b. If f’(x) < 0 for all x < c and if f’(x) > 0 for all x > c,
then f(c) is the absolute minimum value of f

If the domain is a closed interval, the value of the function in the


critical numbers and the endpoints should be compared. If the
domain is the open interval – checking the sign of the second
derivative and verifying the concavity throughout the domain or
checking the limit of the function when approaching the non-
included endpoints may be carried out.

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Ex.3. Find the dimensions of the right circular cylinder with greatest
volume that can be inscribed in a right circular cone of radius 8 cm
and height 12 cm.

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Ex.4. The frame for a kite is to be made from six pieces of wood.
The four exterior pieces have been cut with the lengths indicated in
the figure. To maximize the area of the kite, how long should the
diagonal pieces be?

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Ex.5. Find the point on the parabola y2 = 2x that is closest to the
point (1, 4).

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Ex.6. A small island is 2 km offshore in a large lake. A woman on
the island can row her boat 10 km/h and can run at 20 km/h. If she
rows to the closest point of the straight shore, she will land 6 km
from a village on the shore. Where should she land to reach the
village most quickly by a combination of rowing and running?

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Ex.7. A painting in an art gallery has height 3 m and is hung so that
its lower edge is about 1 m above the eye of an observer. How far
from the wall should the observer stand to get the best view? (i.e. the
observer wants to maximize the angle subtended at the eye by the
painting.)

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Ex.8. Show that of all the isosceles triangles with a given perimeter,
the one with the greatest area is equilateral.

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Ex.9. Find the area of the largest rectangle that can be inscribed in a
semicircle of radius r.
Solution1.

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Solution 2.

Ex. 10. Show that if f(x) is a positive twice differentiable function


that has a local minimum at x = c, then g(x) = [f(x)]2 has a local
minimum at x = c as well.

APPLICATIONS TO BUSINESS AND ECONOMICS

Recall that if C(x), the cost function, is the cost of producing x units
of a certain product, then the marginal cost is the rate of change of
C with respect to x, i.e. C’(x).

The marginal cost is approximately the cost of producing (x+1)st


unit.

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Let p(x) be the price per unit that the company can charge if it sells
x units. Then, p is called the demand function
(or price function), and we would expect it to be a decreasing
function of x.

If x units are sold and the price per unit is p(x), then the
total revenue is:
R(x) = xp(x)

The derivative R’ of the revenue function is called the marginal


revenue function. It is the rate of change of revenue with respect to
the number of units sold.

If x units are sold, then the total profit is

P(x) = R(x) – C(x)

and is called the profit function.

The marginal profit function is P’, the derivative of the profit


function.

Ex.11. Show that if the profit P(x) is a maximum, then the marginal
revenue equals the marginal cost. If C(x)=16000+500x-1.6x2
+0.004x3 is the cost function and p(x)=1700-7x is the demand
function, find the production level that will maximize the profit.

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Ex.12. A store has been selling 200 DVD burners a week at $350
each. A market survey indicates that, for each $10 decrease in price,
the number of units sold will increase by 20 a week. Find the
demand function and the revenue function. What price will
maximize the revenue?

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