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Maximize return

  1. Jan 18, 2013 #1
    1. The problem statement, all variables and given/known data

    Given:
    f(x) = 1/2 - 1/4|A - x| where f(x) is total contract award, x = deliver date

    if 5 < x < 7 then get a reward $500


    2. Relevant equations

    Find A such that it maximizes the contract award

    3. The attempt at a solution
    My approach: take derivative of f(x) and set it = 0 and solve for A
    Am I correct? Thanks
     
  2. jcsd
  3. Jan 18, 2013 #2

    Mark44

    Staff: Mentor

    What did you get?

    Also, I'm moving this to the Calculus & Beyond section.
     
  4. Jan 18, 2013 #3

    haruspex

    User Avatar
    Science Advisor
    Homework Helper
    Gold Member
    2016 Award

    I don't understand how that item of information fits in. Does it mean that the given formula for f(x) only applies outside that range?
    Won't that depend on x? Or is it supposed to maximise the average award given some prob dist for x? (There's a very similar problem in another recent thread, and it's just as unclear.)
     
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