The document discusses solving maximization and minimization word problems using calculus. It provides steps to (1) reduce the problem to equations, (2) rewrite one equation in terms of one variable, and (3) use calculus to find the maximum or minimum value. An example problem is provided where the goal is to maximize the total area of two pieces cut from a rope by forming one into a square and the other into a rectangle. Using the given steps and calculus, the maximum total area is found when the length of the square is 1/2 meters. A second example involves maximizing the volume of a cylindrical bucket given its total surface area.