1 At the beginning of year 1, Sunco Oil owns i barrels ofoil reserves. During year t(t = 1, 2, ..., 10), the followingevents occur in the order listed: (1) Sunco extracts andrefines x barrels of oil reserves and incurs a cost c(x): (2)Sunco sells year t's extracted and refined oil at a price of prdollars per barrel; and (3) exploration for new reservesresults in a discovery of b, barrels of new reserves.Sunco wants to maximize sales revenues less costs overthe next 10 years. Formulate a dynamic programmingrecursion that will help Sunco accomplish its goal. If Suncofelt that cash flows in later years should be discounted, howshould the formulation be modified?

According to the given data, first determine the suppositions of the terms mentioned in the problem…

Answered: 1 At the beginning of year 1, Sunco Oil…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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(d) Experiment: measure the quantities a, b, c (in cm) of rainfall in a day at each of three weather stations A, B and C. Event: it is driest at station A. 2. Suppose we have 2=[0,9]={xR;0
.A new, miracle diabetes drug that diminishes major symptoms of diabetes has been approved by the FDA. Health care professionals and researchers believe that the new drug will prolong lifespan of diabetes patients. If the population is in steady state and the incidence is constant, what will the effect of this new drug be on the prevalence of diabetes in the population? Explain.
7. For a sample of 20 monthly observations, a financial analyst wants to regress the percentage rate of return (Y) of the common stock of a corporation on the percentage rate of return ( X) of standard and Poor's 500 Index. The following information is available: 20 20 20 20 20 >y = 22.6 , x = 25.4 , ) xỉ = 145.7 ,) yf = 180.5 , *Y = 150.5 a. Compute the sample correlation coefficient and interpret your answer. b. Test to determine the significance of the linear relationship between x and y. c. Estimate the lincar regression of Y on X, and interpret your results. Hence write the regression line and estimate Y when X is 8%.
5. (i) Show that the chance that an exponentially distributed variable takes on a value below its mean is more than 60% and that the chance that the value will be below half of the mean is almost 40%. (ii) When are exponentially distributed interarrival (service) times reasonable / unrea- sonable for a queuing system?
a) A university projects that enrollments are going to decline as the pool of college-aged applicants begins to shrink. They have estimated the number of applications for coming years to behave according to the function a = f(t) = 6,500 – 250t where a equals the number of applications for admission to the university and t equals time in years measured from this current year (t = 0). i. What class of function is this? ii. What is the expected number of applications 5 years from today? 10 years? iii. Do you think this function is accurate as a predictor indefinitely into the future? iv. What kinds of factor would influence the restricted domain on t?
6
Problem >] For a fully discrete whole life insurance of 1 on (r), you are given: (i) The net premium reserve at the end of the first year is 0.012. (ii) qz = 0.009 (iii) i = 0.04 Calculate är.

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