Chapter 4.3, Problem 79E

Saudi Oil Revenues The price of crude oil during the period 2000-2010 can be approximated by

$P\left(t\right)=6t+18\text{ dolloars per barrel }\left(0\le t\le 10\right)$

In year t, where $t=0$ represents 2000. Saudi Arabia’s crude oil production over the same period can be approximated by

$P\left(t\right)=-0.036t^2+0.62+8\text{ million barrels per day }\left(0\le t\le 10\right)$.

Use these models to estimate Saudi Arabia’s daily oil revenue and also its rate of change in 2008. (Round your answer to the nearest $1 million.)