   Chapter 11.4, Problem 75E Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203

Solutions

Chapter
Section Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203
Textbook Problem

Crude Oil Prices The price per barrel of crude oil in the period 1980–2013, in constant 2014 dollars, can be approximated by P ( t ) = 0.27 ( t − 1980 ) 2 − 8.6 ( t − 1980 ) + 93  dollars  ( 1980 ≤ t ≤ 2013 ) , where t is the year.30 Find P ' ( t )  and  P ' ( 2010 ) . What does the second answer tell you about the price of crude oil?

To determine

To calculate: The values of P'(t) and P'(2010), if it is given that the price per barrel of crude oil in span of 19802013 and in constant 2014 dollars is approximated by the function P(t)=0.27(t1980)28.6(t1980)+93 dollars where t is the year, 1980t2013, and also determine what the second answer states about the price of crude oil.

Explanation

Given Information:

The price per barrel of crude oil in span of 19802013 and in constant 2014 dollars is approximated by the function P(t)=0.27(t1980)28.6(t1980)+93 dollars where t is the year such that (1980t2013).

Formula used:

Derivative of function f(x)=(u)n using chain rule is f'(x)=ddx(u)n=nun1dudx, where u is the function of x.

Calculation:

Consider the function P(t)=0.27(t1980)28.6(t1980)+93,

Apply the chain rule,

P'(t)=0.27ddt(t1980)28.6ddt(t1980)+ddt(93)=0

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Convert the following percents to decimals. 612

Contemporary Mathematics for Business & Consumers

The gradient vector field for is:

Study Guide for Stewart's Multivariable Calculus, 8th

In Exercises 918, indicate whether the matrix is in row-reduced form. [100100|1020]

Finite Mathematics for the Managerial, Life, and Social Sciences 