Carry your intermediate computations to at least three decima Round your answers to at least two decimal places. (If necessa consult a list of formulas.) Lower limit: 0 ? Upper limit:
Minimization
In mathematics, traditional optimization problems are typically expressed in terms of minimization. When we talk about minimizing or maximizing a function, we refer to the maximum and minimum possible values of that function. This can be expressed in terms of global or local range. The definition of minimization in the thesaurus is the process of reducing something to a small amount, value, or position. Minimization (noun) is an instance of belittling or disparagement.
Maxima and Minima
The extreme points of a function are the maximum and the minimum points of the function. A maximum is attained when the function takes the maximum value and a minimum is attained when the function takes the minimum value.
Derivatives
A derivative means a change. Geometrically it can be represented as a line with some steepness. Imagine climbing a mountain which is very steep and 500 meters high. Is it easier to climb? Definitely not! Suppose walking on the road for 500 meters. Which one would be easier? Walking on the road would be much easier than climbing a mountain.
Concavity
In calculus, concavity is a descriptor of mathematics that tells about the shape of the graph. It is the parameter that helps to estimate the maximum and minimum value of any of the functions and the concave nature using the graphical method. We use the first derivative test and second derivative test to understand the concave behavior of the function.
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The standard deviation of the daily demand for a product is an
important factor for inventory control for the product. Suppose that a
pharmacy wants to estimate the standard deviation of the daily demand
for a certain antibiotic. It is known that the daily demand for this
antibiotic follows an approximately normal distribution. A random
sample of 22 days has a sample mean of 120 orders for this antibiotic with
a standard deviation of 10.1 orders. Find a 90% confidence interval for the
population standard deviation of the daily demand for this antibiotic.
Then give its lower limit and upper limit.
Carry your intermediate computations to at least three decimal places.
Round your answers to at least two decimal places. (If necessary,
consult a list of formulas.)
Lower limit:|
Upper limit:I
Explanation
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