Question:

The price per barrel of crude oil in the period 1980 2013 in

Last updated: 4/14/2023

The price per barrel of crude oil in the period 1980 2013 in

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 t 33 where t is time in years since the start of 1980 Find P t and P 31 P t P 31 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 per year in