Mathematical optimization is the selection of a best element (with regard to some criteria) from some set of available alternatives. An optimization process that involves only a single variable is rather straightforward. After finding out the function
Cardboard Box with a Fixed Volume
A packaging company needs cardboard boxes in rectangular cuboid shape with a given volume of 1000 cubic centimeters and would like to minimize the material cost for the boxes. What should be the dimensions
First of all, the material cost would be proportional to the surface area
Rectangular Cuboid
Mathematical optimization can be used to solve problems that involve finding the right size of a volume such as a cuboid.
We will first remove
To find the critical points:
and
Then, substituting in the expression found equal to
Therefore, we find that:
That is to say, the box that minimizes the cost of materials while maintaining the desired volume should be a 10-by-10-by-10 cube.