DERIVATIVE    In the following the symbol for the first derivative is dy/dx or Y’ and the symbol for the second derivative is d2y/dx2 or Y”, all of which are standard symbols.                                                                                                 Y = X3 -2X2 +1 X -.333 0 .333 .667 1 1.333 1.667 Y               dy/dx               d2y/dx2                 A function is given above.  The table gives several pre-selected values of the independent variable (X).  Use all of these to have enough to answer questions for this assignment.  Calculate the Y value corresponding to each X value in the table.  Write the Y value and its sign (+ or -) calculated in the cell below its X value. Pick any three of the X values and on a separate worksheet, show how you calculated its Y value.  Use these X,Y pairs also if you chose to do the bonus option. Find the critical values among the given X values by: Correctly finding the first derivative of the given function. Write dy/dx here ________________ Show how you found the derivative on the worksheet (this is half the credit for this question). Using the derivative from (2a) solve it for all the X values that make the derivative equal zero. Show your work on the worksheet and also write “0” in the cell of the dy/dx row for the X value where dy/dx = 0.  There may be none, one, or two such.  (this is the other half credit). Find additional critical values among the X values by: Correctly finding the second derivative of the given function. Write d2y/dx2 here  ___________ Show how you found this second  derivative on the worksheet (this is half the credit for this question). Using the second derivative from (3a) solve it for all the X values that make d2y/dx2 equal zero. Show your work on the worksheet and also write “0” in the cell of the d2y/dx2 row for the X value(s) where d2y/dx2 = 0.  There may be one, or two such.  (this is the other half credit).

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

DERIVATIVE 

 

In the following the symbol for the first derivative is dy/dx or Y’ and the symbol for the second derivative is d2y/dx2 or Y”, all of which are standard symbols.

                                                                                                Y = X3 -2X2 +1

X

-.333

0

.333

.667

1

1.333

1.667

Y

 

 

 

 

 

 

 

dy/dx

 

 

 

 

 

 

 

d2y/dx2

 

 

 

 

 

 

 

 

A function is given above.  The table gives several pre-selected values of the independent variable (X).  Use all of these to have enough to answer questions for this assignment. 

  1. Calculate the Y value corresponding to each X value in the table.  Write the Y value and its sign (+ or -) calculated in the cell below its X value. Pick any three of the X values and on a separate worksheet, show how you calculated its Y value.  Use these X,Y pairs also if you chose to do the bonus option.
  2. Find the critical values among the given X values by:
  3. Correctly finding the first derivative of the given function. Write dy/dx here ________________ Show how you found the derivative on the worksheet (this is half the credit for this question).
  4. Using the derivative from (2a) solve it for all the X values that make the derivative equal zero. Show your work on the worksheet and also write “0” in the cell of the dy/dx row for the X value where dy/dx = 0.  There may be none, one, or two such.  (this is the other half credit).
  5. Find additional critical values among the X values by:
  6. Correctly finding the second derivative of the given function. Write d2y/dx2 here  ___________ Show how you found this second  derivative on the worksheet (this is half the credit for this question).
  7. Using the second derivative from (3a) solve it for all the X values that make d2y/dx2 equal zero. Show your work on the worksheet and also write “0” in the cell of the d2y/dx2 row for the X value(s) where d2y/dx2 = 0.  There may be one, or two such.  (this is the other half credit).

Read the signals given by the critical derivative values above. (NOTE: do not consider the first or the last X value as being among the critical values).

  1. Are there maximums among the X,Y pairs? If so, then the pair’s dy/dx = 0 and also its d2y/dx2 will be a negative (-) value for each such X,Y pair. What are the X values and also the d2y/dx2 values? There may be none, one, or two maximums.  Write your values below:

 

                                                Value of X                  Value of its d2y/dx2

                                          _________                  _____________

                                          _________                  _____________

  1. Are there minimums among the X,Y pairs? If so, then the pair’s dy/dx = 0 and also its d2y/dx2 will be a positive (+) value for each such X,Y pair. What are the X values and also the d2y/dx2 values? There may be none, one, or two minimums.  Write your values below:

                                                Value of X                  Value of its d2y/dx2

                                          _________                  _____________

                                          _________                  _____________         

  1. Are there inflection points among the X,Y pairs? If so, then the pair’s dy/dx may or may not equal zero. However,  d2y/dx2 at each will be zero (0) for each such X,Y pair. What are the X values and also the d2y/dx2 values?  There may be one, or two inflections.  Write your values below:

                                                Value of X                  Value of its d2y/dx2

                                          _________                  _____________

                                          _________                  _____________

References:  A tutorial at the top of the Blackboard page that contains the twelve versions and also Power Point lesson 13.

 

Twenty point optional bonus opportunity. If done, submit along with the above using the same Gold submission link.  Using all X,Y pairs tabled above,  plot them.  Scale the axis’s so that the maximum(s), minimum(s) and inflection(s) are clearly obvious.  Indicate numerical values on each axis.  Label each maximum, minimum, and inflection point as such on the plot along with its X and Y values. EXAMPLE: Suppose at X = 3.00 and Y = 11.00, you decide this point is an inflection.  Then write (3,11)INF at this point on the graph.

You may plot this graph with Excel (but still label the various critical points).  Your plot must show each maximum, minimum, and inflection point found in the six previous steps (if labeling is omitted, we will not guess which is what – you must tell us).  The scoring rubric and scoring for this bonus opportunity will be shown as a separate exercise in My Grades.

 

 

 

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Derivative of Real Variable
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education