Preparatory Quantitative Methods

Tushar Tanwar
Quiz

 Find
  for x2+5xy+y3-4=0, x2+e3y-ye2x
 Find intervals where function is increasing : x5/3-3x2/3
 Given the revenue function in dollars R(x) = −3x3 + 600x2 and the cost function in
dollars C(x) = 357x2 + 1800x ; find:
(a) the marginal profit at x = 10 units. Interpret the result. (b) the marginal profit at x
= 100 units. Interpret the result.
 Find the max/min/inflexion points of
 f(x) = x 4−6x 2+10
 f(x) = 2x 3 − 3x 2 − 12x + 5 on [−2, 4].
 f(x)= 3x4-16x3+24x2-2
Antiderivative

 Definition.
  A function F(x) is called an antiderivative of another function
f(x) if F′(x) = f(x) for all x.
 Let F be any antiderivative of f. The indefinite integral of f(x) is defined by
= F(x) + c, where c is an arbitrary constant
 The indefinite integral of f(x), denoted , is the class of functions whose
derivative is f(x)
 F1(x) = x2 is an antiderivative of f(x) = 2x.
F2(x) = x2 + 2 is also an antiderivative of f(x) = 2x.
Anti derivative of f(x)=2x is F(x)=x2+C
 Anti derivative of f has the form F(x)+c for some constant ‘c’.
Power Rule

 For
  any r 1,
= +C

 Evaluate
Standard integrals

  = + C
 =+C
 = tanx + C (x + k , k)
 = cotx + C (x k , k)
 =+C
 =+C
 = tan-1x + C
 = sin-1x + C
 = sec-1x + C
 • Suppose that f(x) and g(x) have antiderivatives. Then, for any constants, a
and b,
=a b

• Evaluate

 If
  F is an antiderivative of f then
=

 Ex: Evaluate

  = + C
 =+ C
 = +C
 = | + C,
 = ln|(x)| + C

 Evaluate
Methods of integration

 Substitution
  method
 (chain rule)
 So,
 Example:

 Evaluate:

 Integration
  by parts

 Rearranging terms,
 So,
 Example:
Definite integrals

  Indefinite
  integral - a class of functions, Definite integral - a number. 
 The idea underlying the definite integral is that of addition.
 Example
 Consider
 Another visualization of the sum

 Estimate
  the area under the graph of y = f(x) for a ≤ x ≤ b.

 Divide the interval [a, b] into n equal pieces

 The area under the curve A is roughly the same as the sum of the areas of n
rectangles

 For a function f defined on [a,b], the definite integral of f is defined as

 , if the limits exists.
 Find the area under the curve y = f(x) = 2x – 2x2 on the interval [0,1]
Fundamental theorem of calculus

 If
  f is continuous on [a,b] and F(x) is any antiderivative of f(x), then
 The notation used for above is

Ex:
  
 Evaluate where f(x)=

 Solve
 
Properties of definite integrals
  
 Odd function f(-x)=-f(x),

 Even function f(-x)=f(x),

Application
 Area between curves
 Find the area bounded by the graphs of y = 3 − x and y = x 2 − 9.
 Find the area bounded by the graphs of y = x 2 and y = 2 − x 2 for 0 ≤ x ≤ 2.
 If a marginal revenue function is given as MR = 10Q2 + 6Q − 3, find an
expression for the total revenue function(TR).
Supply and Demand
 The supply function or supply curve gives the quantity of an item that
producers will supply at any given price. P=S(q)
 The demand function or demand curve gives the quantity that consumers
will demand at any given price. P=D(q)
 The point of intersection (qe, pe) of the supply and demand curves is called
the market equilibrium point. The numbers qe and pe are termed equilibrium
quantity and equilibrium price respectively.
 We first compute the total amount spent by the consumers if everyone buys
at the equilibrium price pe.
 total amount spent at equilibrium price = peqe.
 Next, let us compute the total amount that would be spent if every
consumer paid the maximum price that each is willing to pay.
 Assume at first only x1 units had been available
 (price per unit) × (number of units) = D(x1)∆x dollars , next x2 units are
available.. And so on..
 Continuing this process of price discrimination, the total amount of money
paid by consumers willing to pay at least pe is approximately
 =D(x1)∆x + D(x2)∆x + · · · + D(xn)∆x.

 Total
  amount paid at maximum prices =.
 The difference represents the total that consumers save by buying at
equilibrium price.
 Consumer surplus =− peqe =− pe] dq

 the producers also gain by trading at the equilibrium price. Their gain is
called producer surplus.
 Producer surplus =peqe- =] dq
 P=D(q)=20/(q+1)
 P=S(q)=q+2
 Find the equilibrium price and equilibrium quantity. Then compute the
consumer and producer surplus.
Probability as area under the curve
 Given heights of people with probability
 The probability distribution graph (histogram)
is given as

 We can use the areas of the rectangles to determine probabilities for

intervals. P(64 ≤ height ≤ 66) , P(66 ≤ height ≤ 69)
 Width=1, height=prob.
 If we were to measure to the nearest half-inch, or tenth of an inch, or
hundredth, or thousandth, etc., we’d get more-narrow rectangles, and would
get something like a curve.
 The area under the curve for a given interval would be the probability of
people having heights within that interval.
 Thank You!