Question

In: Economics

Calculate the Y values corresponding to the X values given below. Find the critical values for...

Calculate the Y values corresponding to the X values given below. Find the critical values for X for the given polynomial by finding the X values among those given where the first derivative, dy/dx = 0 and/or X values where the second derivative, d¬2y/dx2 = 0. Be sure to indicate the sign (+ or -) of dy/dx and of d2y/dx2 tabled values. Using the first and second derivative tests with the information you have calculated, determine which X value(s) represent maximums (MAX), which minimums (MIN) and which inflection points (INF). Label the qualifying X value as such. The beginning (-.333) and ending X values (1) below are not to be considered critical values.

write the first derivative (dy/dx or Y’). Set this equal to zero and solve for the X values that make it equal to zero. Also write the second derivative (d2y/dx2 or Y”). Set this equal to zero and solve for the X values that make it equal to zero. Complete the table.

Y = X3 –X2 +3

X

-.333

-.25

0

.25

.333

.667

1

Y

dy/dx

d2y/dx2

Label Point

(MAX, MIN, INF)

Use the nine X values and their Y values you found above (which include the critical values) to help neatly draw the graph of this polynomial function over the range of X values given.  

Solutions

Expert Solution

For the function be , we have or and or or .

The table would be as below.

X -0.333 -0.25 0 0.25 0.333 0.667 1
Y +2.8522 +2.9219 +3 +2.9531 +2.926 +2.8519 +3
+0.9987 +0.6875 0 -0.3125 -0.3333 0 +1
-3.998 -3.5 -2 -0.5 0 2.002 4
Label Point - - MAX - INF MIN -

The critical values would be where or or or or . For X=0, we have, ie , meaning that we have a maximum at X=0. For X=0.667, we have , ie , meaning that we have a minimum at X=0.667.

The inflection point would be where or or .

The graph would be as below.

As can be seen, the curve is maximum at X=0, at a minimum at X=0.667 and at an inflection point at X=0.333 (inflection point is marked as the red-dot, which is where Y's curvature is changed).


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