The price per barrel of crude oil in the period 1980-2013, in constant 2014 dollars, can be approximated by P(t)=0.27t^2-8.6t+93 dollars (0

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The price per barrel of crude oil in the period 1980-2013, in constant 2014 dollars, can be approximated by P(t)=0.27t^2-8.6t+93 dollars (0
The price per barrel of crude oil in the period 1980-2013, in constant 2014 dollars, can be approximated by
P(t) = 0.27t - 8.6t + 93 dollars (0 sts 33),
where t is time in years since the start of 1980.t Find P'(t) and P'(28).
P'(t) =
0.54t – 8.6
P'(28) = $7.06
per year
What does the second answer tell you about the price of crude oil? Hint [See Example 2.]
The price of a barrel of crude oil was increasing at a rate of $ 7.06
X per year in 2009
Transcribed Image Text:The price per barrel of crude oil in the period 1980-2013, in constant 2014 dollars, can be approximated by P(t) = 0.27t - 8.6t + 93 dollars (0 sts 33), where t is time in years since the start of 1980.t Find P'(t) and P'(28). P'(t) = 0.54t – 8.6 P'(28) = $7.06 per year What does the second answer tell you about the price of crude oil? Hint [See Example 2.] The price of a barrel of crude oil was increasing at a rate of $ 7.06 X per year in 2009
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