MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Crude Oil Prices In a certain country, the price...

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MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Crude Oil Prices In a certain country, the price per barrel of crude oil in constant 2004 dollars can be approximated by P(t) = 0.65t - 15t + 105 dollars (0 st 24), where t is time in years since the start of 1980. (a) Compute the average rate of change of P(t) over the interval [0, 24]. 0.6 Interpret your answer. In this country, the price per barrel of crude oil in constant 2004 dollars was growing at an average rate of about $ 2004 1980. X per year over the 24-year period beginning at the start of (b) Estimate the instantaneous rate of change of P(t) at t = 0. (Round your answer to three decimal places.) 2004 X Interpret your answer. In this country, the price per barrel of crude oil in constant 2004 dollars was dropping at an instantaneous rate of about $ (c) The answers to part (a) and part (b) have opposite signs. What does this indicate about the price of oil in this country? The price of oil was decreasing in January 1980 but eventually began to increase, making the average rate of change in part (a) positive. O The price of oil was increasing in January 1980 but eventually began to decrease, making the average rate of change in part (a) positive. The price of oil was decreasing in January 1980 but eventually began to increase, making the average rate of change in part (a) negative. O The price of oil was increasing in January 1980 but eventually began to decrease, making the average rate of change in part (a) negative. X per year at the start of 1980. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Crude Oil Prices In a certain country, the price per barrel of crude oil in constant 2004 dollars can be approximated by P(t) = 0.65t - 15t + 105 dollars (0 st 24), where t is time in years since the start of 1980. (a) Compute the average rate of change of P(t) over the interval [0, 24]. 0.6 Interpret your answer. In this country, the price per barrel of crude oil in constant 2004 dollars was growing at an average rate of about $ 2004 1980. X per year over the 24-year period beginning at the start of (b) Estimate the instantaneous rate of change of P(t) at t = 0. (Round your answer to three decimal places.) 2004 X Interpret your answer. In this country, the price per barrel of crude oil in constant 2004 dollars was dropping at an instantaneous rate of about $ (c) The answers to part (a) and part (b) have opposite signs. What does this indicate about the price of oil in this country? The price of oil was decreasing in January 1980 but eventually began to increase, making the average rate of change in part (a) positive. O The price of oil was increasing in January 1980 but eventually began to decrease, making the average rate of change in part (a) positive. The price of oil was decreasing in January 1980 but eventually began to increase, making the average rate of change in part (a) negative. O The price of oil was increasing in January 1980 but eventually began to decrease, making the average rate of change in part (a) negative. X per year at the start of 1980.