Question
Colorado Drilling Let p be the number of Colorado oil and natural gas drilling permits, in thousands, and let t be the number of years
Colorado Drilling Let p be the number of Colorado oil and natural gas drilling permits, in thousands, and let t be the number of years after 2000. On the basis of the following information, sketch a possible graph of the function p with input t, 1 ≤ t ≤ 8.
• p(1) ≈ 2, and in 2008 there were approximately 6000 more drilling permits in Colorado than in 2001.
• Lines tangent to the graph of p lie below the graph at all points between 2001 and 2008.
• The average rate of change in drilling permits between 2001 and 2004 is approximately 0.42 thousand permits per year.
• The number of drilling permits between t = 1 and t = 6 increased approximately 161%.
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