One model of worldwide oil production is the function given by the following formula where P(t) is the # of barrels in billions produced in a year, t years after 1933. According to this model, in what yaer did worldwide oil production achieve an absolute maximum? What was that maximum?
P(t)=0.0000000218t^4-0.0000167t^3 0.00156t^2 0.002t 0.22 0 (theyre greater than or equal too)
so every time the phrase 'minimum' or 'maximum' show up in a problem with an equation, it means we need to do the math operation of taking the derivative. make senes?can you find the derivative of the equation given?
