As in 29, let P be total world oil production since 1859. In 1998, annual world

Chapter 11, Problem 31

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As in 29, let P be total world oil production since 1859. In 1998, annual world production was 24.4 billion barrels and total production was P = 841 billion barrels. In 2003, annual production was 25.3 billion barrels and total production was P = 964 billion barrels. (a) Graph dP/dt versus P from and show the data for 1998 and 2003. How well does the model fit the data? (b) Graph the logistic function modeling worldwide oil production (P versus t) from and show the data for 1998 and 2003. How well does the model fit the data?

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