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Business Calculus, Summer 2004 Midterm 2

Instructions: This exam should be taken in 1 hour. Calculators and one hand- written page of notes are allowed. Use the back of the page if you need extra space.

1. (20pts.) Find the derivative of

f (x) = xe x x 2 3 + ln 1

d

2 x

d

dx

Solution: The derivative of the numerator is

d

dx xe x 2 ln 2 x = dx (x)e x 2 + x

d

e x 2 dx (ln 2 x)

=

e x 2 + xe x 2 (2 x) 1 x (2)

2

= e x 2 + 2 x 2 e x 2 1

x

and the derivative of the denominator is 3 x 2 . Therefore the answer is, by using the quotient rule,

f (x) =

=

e x 2 + 2 x 2 e x 2 1

x (x 3 + 1) xe x 2 ln 2 x (3 x 2 )

(x 3 + 1) 2

e x 2 (2 x 5 2 x 3 + 2 x 2 + 1) x 2 (x 3 + 1) 2

1

+ 3 x 2 ln 2 x

x

2. (20pts.) A rectangular box with an open top and square bottom is to be formed using just 48 square feet of cardboard. How should the height h and base length l be chosen so as to maximize the volume of the box?

Solution: The base of the box has area l 2 , and each of the four sides has area hl . Therefore the total area is l 2 + 4 hl , and the question tells us that l 2 + 4 hl = 48. Therefore h = 48 l 2 . The volume of the box is hl 2 , and subbing in the formula for h we have

4l

V (l ) = hl 2 = 48 l l 2

4

l 2 = l (48 l 2 )

4

= 12 l l 4 3 .

To maximize this we solve V (l ) = 0. We have

3

V (l ) = 12 4 l 2 = 0

which gives l 2 = 16, and therefore l = 4. Then from this we get

h = 48 l 2 = 48 16

4

l

16

= 2 .

So the volume maximizing dimensions are a height of 2 feet and a base length of 4 feet. We can be sure this a maximum since there is only one critical point and the problem intuitively has a maximum and no minimum.

3. (10 pts.) Find the absolute maximum and absolute minimum value of f (x) = x 2 + 16 on the interval 1 x 4.

x

The critical points are found by solving f (x) = 0, or

2 x 16 = 0

x 2

2 x = 16

x 2

x 3 = 8

x = 2

Since this is a bounded interval we can solve for the max and min by comparing the values of f at the critical

points and the endpoints. We have f (1) = 1 + 16 = 17, f (2) = 4 + 8 = 12, and f (4) = 16 + 4 = 20. max value of 20 occurs at x = 4 and the min value of 12 occurs at x = 2.

So the

4. (10 pts.) Let f (x) = x 3 + 3 x 2 + 5 x 1. Find the equation of the tangent line to y = f (x) at the point (1 , 8).

The point (1 , 8) is on the tangent line so we only need to ﬁnd the slope, which is given by the derivative.

Computing that f (x) = 3 x 2 + 6 x + 5, we see f (1) = 3 + 6 + 5 = 14, so the equation of the y 8 = 14(x 1), or y = 14 x 6.

tangent line is

5. (10 pts.) \$500 invested at an interest rate of r (as a decimal) compounded monthly will grow to A = 500 1 + 12 14 after 14 years. Find the instantaneous rate of change of A with respect to r .

Solution: The instantaneous rate of change is of course the derivative, which we can ﬁnd using the chain rule. We have

r

dA

dr

d

= 13 dr 1 + 12

500(14) 1 +

500(14) 1 +

1750

3

1 +

r

12

r

12

= 13 12 1

=

12 13

r

r

1

6. (15 pts.) Find the critical points of f (x) = 4 x 4 x 3 + x 2 7. Then use either the ﬁrst derivative sign test or the second derivative test to classify them as maxes, mins or “nothing” points.

Solution: The critical points are found by solving f (x) = 0, which gives

 x 3 − 3 x 2 + 2 x = 0 x(x 2 − 3 x + 2) = 0

x(x 2)(x 1) = 0 .

So the critical points are x = 0, x = 1, and x = 2. Now we use the second derivative test to classify the points.

3 x 2 6 x + 2, and then f (0) = 2, f (1) = 1, and f (2) = 2. Hence there are mins at x = 0 max at x = 1.

7. (15 pts.) In high gear a truck has a minimum speed of 10 miles per hour. When travelling x miles per hour in high gear the truck burns gas at the rate of 1 3 900 + x gallons per mile. Gas costs \$2 a gallon and the driver is paid \$15 an hour. He has to make a 500 mile trip, but he can never exceed 60 miles per hour. What speed x minimizes the total cost of the trip?

Solution: As in the question let x be the speed travelled, and note that the question restricts our domain to

We have f (x) = and x = 2, and a

x

10 x 60. First observe that the trip will take 500 hours, so the driver’s total wages will be 500 (15) = 7500

x

dollars. The gas cost depends on the number of gallons requir ed, and since he uses for each of the 500 miles, the total gas required is

1 900

3

x

x

x

+ x gallons per mile

500

3

900

x

+ x

which costs (since gas is \$2 a gallon)

1000

900 + x = 300 , 000 + 1000 3 x.

x

x

3

The total cost of the trip is therefore

C (x) = 300 , 000 + 1000 x + 7500 = 307 , 500 + 1000 3 x.

x

3

x

x

To maximize this we solve C (x) = 0, which is

307 , 500 + 1000

x

2

3

=

0

307 , 500 = 1000

x

2

3

3 × 307 , 500

1000

=

x

2

922 .5 = x 2

± 30 .37 = x

So the minimizing speed would appear to be x = 30 .37, but we should somehow verify that is in fact a minimum. One way is to notice that since this a bounded interval for x, we only need to compare the value of C at the critical points and the endpoints. We have C (10) = 34 , 083 .33, C (30 .37) = 20248 .45, and C (60) = 25125. Hence the speed of 30.37 actually does minimize the cost.