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Given the Chart 1 below showing the relationship between Crude Oil Price (Dollars per Barrel) and Diesel Retail Proce (Cents per gallon), for every $10/barrel increase in crude oil how much is the resulting increase in diesel fuel per gallon?

Given the Chart 1 below showing the relationship between Crude Oil Price (Dollars per Barrel) and Diesel Retail Proce (Cents per gallon), for every $10/barrel increase in crude oil how much is the resulting increase in diesel fuel per gallon?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Given the Chart 1 below showing the relationship between Crude Oil Price (Dollars per Barrel) and Diesel Retail Proce (Cents per gallon), for every $10/barrel increase in crude oil how much is the resulting increase in diesel fuel per gallon?

Chart 1: Relationship between Crude Oil Prices and Diesel Fuel Prices Diesel Retail Price (Cents per Gallon) 370 360 350 340 330 320 310 300 290 280 270 260 250 240 230 Trend Line Model Diesel Retail Price(Cents per Gallon) = 2.38515*Crude Oil Price($/barrel) + 132.292 50 55 60 65 70 75 Crude Oil Price (Dollars per Barrel) 80 85 90
Transcribed Image Text:Chart 1: Relationship between Crude Oil Prices and Diesel Fuel Prices Diesel Retail Price (Cents per Gallon) 370 360 350 340 330 320 310 300 290 280 270 260 250 240 230 Trend Line Model Diesel Retail Price(Cents per Gallon) = 2.38515*Crude Oil Price($/barrel) + 132.292 50 55 60 65 70 75 Crude Oil Price (Dollars per Barrel) 80 85 90
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