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Oil PricesAccording to data from the U.S. Energy Information Administration, the price O in real dollars for an imported barrel of crude oil can be approximated by
where x=1 corresponds to the first quarter of 2015, and so forth. Find the price of imported crude oil for the following quarters.
Determine the most recent full quarter where the price was at least $55.
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Chapter 1 Solutions
Mathematics with Applications In the Management, Natural, and Social Sciences (12th Edition)
- Let X = [−1, 1] C R and consider the functions ₤1, f2 : X → R to be minimised, where f₁(x) = x + x² and f2(x) = x-x² for all x Є X. Solve the tradeoff model minøx µƒ₁(x)+ƒ2(x), for all values of µ ≥ 0. Show your working.arrow_forward7 3 2 x+11x+24 9 2 5 x+11x+24arrow_forwardConsider the following linear programming problem: min x1 x2 3x3 − x4 s.t. — 2x1 − x2 − x4 ≤ −6 x1 x2 x3 + 2x4 <4 x1, x2, x3, x4 ≥ 0. (i) Write an equivalent formulation of this problem, to which the primal-dual algorithm can be applied. (ii) Write out the dual problem to the problem, which you formulated in (i). (iii) Solve the problem, which you formulated in (i), by the primal-dual algorithm using the dual feasible solution π = (0, -3). Write a full record of each iteration.arrow_forward
- 2 4 + 4x 2x 8 || 12arrow_forward୮ dx L1+zadz 1+x2arrow_forwardConsider the following Boolean Satisfiability problem: X2 F (X1, X2, X3, X4, x5) = (x1 √ √ ¤;) ^ (ס \/ ˜2\/×3)^(×k \/×4 \/ ×5) ^^\ (×1\/15), Є where i Є {2, 3, 4, 5}, j = {1, 4, 5}, k = {1, 2, 3} and l € {1, 2, 3, 4}. xk Can this problem be solved by using the Divide and Conquer method?arrow_forward
- You assume that the annual incomes for certain workers are normal with a mean of $28,500 and a standard deviation of $2,400. What’s the chance that a randomly selected employee makes more than $30,000?What’s the chance that 36 randomly selected employees make more than $30,000, on average?arrow_forwardWhat’s the chance that a fair coin comes up heads more than 60 times when you toss it 100 times?arrow_forwardSuppose that you have a normal population of quiz scores with mean 40 and standard deviation 10. Select a random sample of 40. What’s the chance that the mean of the quiz scores won’t exceed 45?Select one individual from the population. What’s the chance that his/her quiz score won’t exceed 45?arrow_forward
- Suppose that you take a sample of 100 from a population that contains 45 percent Democrats. What sample size condition do you need to check here (if any)?What’s the standard error of ^P?Compare the standard errors of ^p n=100 for ,n=1000 , n=10,000, and comment.arrow_forwardSuppose that a class’s test scores have a mean of 80 and standard deviation of 5. You choose 25 students from the class. What’s the chance that the group’s average test score is more than 82?arrow_forwardSuppose that you collect data on 10 products and check their weights. The average should be 10 ounces, but your sample mean is 9 ounces with standard deviation 2 ounces. Find the standard score.What percentile is the standard score found in part a of this question closest to?Suppose that the mean really is 10 ounces. Do you find these results unusual? Use probabilities to explain.arrow_forward
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