Polynomials in the Real World
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Optimization of polynomials is commonly used in business to minimize costs or maximize profits. For example, a packaging company like MeadWestVaco will create a polynomial model of box dimensions and then optimize it to design packaging that uses the least amount of material while providing the most space for a product. They solve such problems every day to help other businesses find the most cost-efficient packaging solutions.
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Polynomials in the Real World
- 1. C PEOPLE ACTUALLY USE POLYNOMIALS IN THE REAL WORLDReally
- 2. • One of the most widely-used applications of polynomials is what we refer to as optimization. • Optimization means that we find the maximum or the minimum in a given situation. • Sometimes we want to find the maximum---for example, if we are talking about profits. • Sometimes we want to find the minimum---for example, if we are talking about costs.
- 3. A Specific Example • MeadWestVaco is a packaging company that creates boxes for products that range from toothpaste to washable markers. • They are hired by companies to design the most cost-efficient packaging possible for a particular product. To do this, they create a polynomial to model the dimensions of the material they want to use. • Then they OPTIMIZE the polynomial to produce the package with the most amount of space while using the least amount of material.
- 4. C HERE’S AN EXAMPLE OF A PROBLEM THEY MIGHT SOLVE.
- 8. C THERE REALLY ARE PEOPLE WHO GET PAID TO DO THIS EVERY DAY!!!
- 9. For more information about MeadWestVaco and what they do: • Visit www.meadwestvaco.com • Google “MeadWestVaco” • Google “packaging mathematics”