6'7 Applied Maxima and Minima

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6.7 Applied Maxima and Minima

• Optimization problems are solved by finding the
  maximum or minimum value for a particular
  quantity.
• To find the solutions
• 1. Determine the quantity to be maximized or
  minimized.
• 2. Express the quantity to be optimized as a
  function of one or more problem variables. If the
  function is
• created using more than one variable, eliminate
  all but one variable using known relationships.
• 3. Differentiate the function and find the zeros
  of the first derivative to identify the
  stationary points. These
• points are potential maximum or minimum values.
• 4. Use the first or second derivative test to
  classify each stationary point as max, min, or
  neither.
• Apply these given steps to solve the following
  example problems
• Example One