01 Applied optimization
01 Applied optimization
This same optimization process can be used in the real world. When the
function we start with models some real-world scenario, then finding the
function’s highest and lowest values means that we’re actually finding the
maximum and minimum values in that situation.
For example, these are all things we can find by applying the optimization
process to the real world:
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• the production or sales level that maximizes profit
This is only a tiny fraction of the many ways we can use optimization to
find maxima and minima in the real world.
When it comes to actually solving these problems, we’ll follow the same
kinds of steps we took to solve optimization problems before.
2. Take the derivative, set it equal to 0 to find critical points, and use
the first derivative test to determine where the function is
increasing and decreasing.
With these steps in mind, let’s work through a typical applied optimization
example. Keep in mind, there are many different kinds of applied
optimization problems, but we solve all of them using this same set of
steps.
Example
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A 5 × 7 piece of paper has squares of side-length x cut from each of its
corners, such that folding up the sides will create a box with no top. Find
the value of x that maximizes the volume of the open-top box.
The diagram shows the 5 × 7 dimensions of the paper, and the x × x square
that was cut out of each corner. After cutting out the squares from the
corners, the width of the open-top box will be 5 − 2x, and the length will be
7 − 2x.
We’re being asked to maximize the volume of a box, so we’ll use the
formula for the volume of a box, and substitute in the length, width, and
height of the open-top box.
V = lwh
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V = (7 − 2x)(5 − 2x)x
V = 4x 3 − 24x 2 + 35x
Now that we have the function we want to maximize, find the derivative.
dV
= 12x 2 − 48x + 35
dx
12x 2 − 48x + 35 = 0
48 ± 2,304 − 1,680
x=
24
48 ± 624
x=
24
12 ± 39
x=
6
So the critical points of the volume function are x ≈ 3.04 and x ≈ 0.96. But
before we start testing critical points, we should always consider which of
the critical points is even plausible.
Substitute x = 3.04 into the equations for the length and width of the open-
top box.
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l = 7 − 2x
l = 7 − 2(3.04)
l = 7 − 6.08
l = 0.92
and
w = 5 − 2x
w = 5 − 2(3.04)
w = 5 − 6.08
w = − 1.08
It’s nonsensical for the width of the box to be negative, so x = 3.04 can’t be
a solution. If we try x = 0.96 in both the length and width equations, we get
positive values for both, so x = 0.96 can be a potential solution.
So we’ll test x = 0.96 to make sure there’s a local maximum at that point.
To test it, we’ll pick a value of x less than 0.96, and another greater than
0.96, and plug them into the derivative.
dV
(0.5) = 12(0.5)2 − 48(0.5) + 35
dx
dV
(0.5) = 14
dx
and
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dV
(2) = 12(2)2 − 48(2) + 35
dx
dV
(2) = − 13
dx
Because the derivative is increasing (14 > 0) to the left of the critical point,
and decreasing (−13 < 0) to the right of it, the function has a maximum at
x = 0.96, and we can say that the volume of the open-top box is maximized
when x = 0.96.
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