(a) Explanation Given: The price of a metric ton of coal on the Newcastle futures market can be approximated by the function h ( x ) = 170 1 + .009 e .342 x , where x = 11 corresponds to the year 2011. Calculation: Here the year 2016 corresponds to x = 16 . Consider the function: h ( x ) = 170 1 + .009 e .342 x Substitute 16 for x . h ( x ) = 170 1 + (b) To determine To calculate: The first full year in which the price of coal dropped below $90 for a metric ton.

12th Edition

ISBN: 9780134776323

Author: MULLINS

Publisher: PEARSON CUSTOM PUB.(CONSIGNMENT)

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Chapter 4, Problem 60RE

(a)

To determine

To calculate: The futures price of coal for the year 2016.

(b)

To determine

To calculate:

The first full year in which the price of coal dropped below $90 for a metric ton.

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Chapter 4, Problem 59RE

Chapter 4, Problem 61RE

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The futures price of coal for the year 2016.

Solution Summary: The author explains how the futures price of coal for the year 2016 is 54.1.