Study Guide for Exam 3

• Applications of Integration
  • Given supply and demand functions, you should be able to compute the equilibrium quantity and price and use that data to integrate producer and consumer surplus and total gains from trade.
  • Compute the present value of a stream of income. In particular, you are now expected to be able to evaluate the integrals, by the method of substition or integration by parts. (For instance you can now be asked to integrate e^{-.05 t} or t e^{-.05 t}.)
• Techniques of Integration
  • Sums, differences, and constant multiples of known functions (also covered on last exam)
  • Powers of x, exponentials, and trig functions (also covered on last exam)
  • Method of substitution (see problems in 7.2)
  • Integration by parts (see worksheet)
  • Using indefinite integration to compute definite integrals (also covered on last exam)
  • Improper integrals (basic definitions)
• Probability
  • Know what is meant by a density function and a cumulative distribution function and how the two are related.
  • Know how to compute the median and the mean and how the two are related.