Concept explainers
Crude Oil The following table gives the U.S. crude oil production, in billions of barrels, for the years from 2010 projected to 2030.
a. Graph a
b. Find the power function that models the data, with x equal to the number of years after 2000 and y equal to the number of billions of barrels of crude oil.
c. Find the quadratic function that models the data, with x equal to the number of years after 2000 and y equal to the number of billions of barre crude oil.
d. Use the power model to predict the number of billions of barrels of crude oil in 2040.
e. Use the quadratic model to predict the number of billions of barrels of crude oil in 2040.
f. If the crude oil production begins to decrease after 2030, which model is the better fit for data?
Year | Billions of Barrels |
2010 | 1.94 |
2014 | 2.10 |
2018 | 2.16 |
2022 | 2.24 |
2026 | 2.26 |
2030 | 2.26 |
(Source: U.S. Energy Information Administration)
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College Algebra in Context with Applications for the Managerial, Life, and Social Sciences (5th Edition)
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