Question

Mexico The following table shows daily crude oil production by Pemex, Mexico's national oil company, for $2008-2014(t=0$ represents 2008$):^{5}$ $$\begin{array}{|r|c|c|c|c|c|c|c|} \hline \begin{array}{r}\text { Year } t \\\text { (year since 2008) }\end{array} & 0 & 1 & 2 & 3 & 4 & 5 & 6 \\\hline\begin{array}{r}\text { Crude Oil } \\\text { Production } p(t) \\\text { (million barrels/day) } \end{array} & 3.16 & 2.97 & 2.95 & 2.94 & 2.91 & 2.88 & 2.79 \\\hline\end{array}$$ a. Find $p(2), p(3),$ and $p(6)$. Interpret your answers. b. Find $p(4)-p(2)$. Interpret your answer.

Name: Problem 41, Chapter 1: Finite Mathematics and Applied Calculus
Uploaded: 2021-09-10T18:03:47-08:00
Duration: 2 min 48 s
Channel: Gregory Higby
Description: Mexico The following table shows daily crude oil production by Pemex, Mexico's national oil company, for 2008-2014(t=0 represents 2008):^5 Year t (year since 2008) 0 1 2 3 4 5 6 Crude Oil Production p(t) (million barrels/day) 3.16 2.97 2.95 2.94 2.91 2.88 2.79 a. Find p(2), p(3), and p(6). Interpret your answers. b. Find p(4)-p(2). Interpret your answer.

   Mexico The following table shows daily crude oil production by Pemex, Mexico's national oil company, for $2008-2014(t=0$ represents 2008$):^{5}$ $$\begin{array}{|r|c|c|c|c|c|c|c|}
\hline \begin{array}{r}\text { Year } t \\\text { (year since 2008) }\end{array} & 0 & 1 & 2 & 3 & 4 & 5 & 6 \\\hline\begin{array}{r}\text { Crude Oil } \\\text { Production } p(t) \\\text { (million barrels/day) }
\end{array} & 3.16 & 2.97 & 2.95 & 2.94 & 2.91 & 2.88 & 2.79 \\\hline\end{array}$$
a. Find $p(2), p(3),$ and $p(6)$. Interpret your answers.
b. Find $p(4)-p(2)$. Interpret your answer.

Finite Mathematics and Applied Calculus

Stefan Waner, Steven… 7th Edition

Chapter 1, Problem 41

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Solved by Expert Gregory Higby

09/10/2021

Step 1

These values are given directly in the table. $p(2)$ corresponds to the crude oil production 2 years after 2008, which is 2.95 million barrels/day. $p(3)$ corresponds to the crude oil production 3 years after 2008, which is 2.94 million barrels/day. $p(6)$ Show more…

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Mexico The following table shows daily crude oil production by Pemex, Mexico's national oil company, for $2008-2014(t=0$ represents 2008$):^{5}$ $$\begin{array}{|r|c|c|c|c|c|c|c|} \hline \begin{array}{r}\text { Year } t \\\text { (year since 2008) }\end{array} & 0 & 1 & 2 & 3 & 4 & 5 & 6 \\\hline\begin{array}{r}\text { Crude Oil } \\\text { Production } p(t) \\\text { (million barrels/day) } \end{array} & 3.16 & 2.97 & 2.95 & 2.94 & 2.91 & 2.88 & 2.79 \\\hline\end{array}$$ a. Find $p(2), p(3),$ and $p(6)$. Interpret your answers. b. Find $p(4)-p(2)$. Interpret your answer.

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Key Concepts

Function Evaluation

This concept involves determining the value of a function at particular points. In real-world scenarios, such as reading crude oil production data, one evaluates the function to extract specific information from a set of observations corresponding to different time periods. It is essentially a lookup process, where the values of the independent variable (time) are substituted into the function to find the dependent variable (oil production).

Interpreting Differences in Function Values

This concept refers to calculating the change between function values at different points, which helps in understanding trends or variations over time. By subtracting one value from another, you can quantitatively measure the increase or decrease between these points. In practical applications, such as analyzing daily production figures, this difference provides insights into efficiency changes or operational performance.

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