Russian Oil Revenues The price of crude oil during the period 2000–2010 can be approximated by P ( t ) = 6 t + 18 dolloars per barrel ( 0 ≤ t ≤ 10 ) In year t, where t = 0 represents2000.Russia’s crude oil production over the same period can be approximated by P ( t ) = − 0.086 t 2 + 1.2 t + 5.5 million barrels per day ( 0 ≤ t ≤ 10 ) Use these models to estimate Russia’s daily oil revenue and also its rate of change in 2005. (Round your answers to the nearest $1 million.)
Russian Oil Revenues The price of crude oil during the period 2000–2010 can be approximated by P ( t ) = 6 t + 18 dolloars per barrel ( 0 ≤ t ≤ 10 ) In year t, where t = 0 represents2000.Russia’s crude oil production over the same period can be approximated by P ( t ) = − 0.086 t 2 + 1.2 t + 5.5 million barrels per day ( 0 ≤ t ≤ 10 ) Use these models to estimate Russia’s daily oil revenue and also its rate of change in 2005. (Round your answers to the nearest $1 million.)
Solution Summary: The author calculates the Saudi Arabia's daily revenue and its rate of change in 2005. They round the answers to the nearest 1 million.
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