The spot price of crude oil during the period 2000-2005 can be approximated by
P(t) = 5t + 25 dollars per barrel (0 ≤ t ≤ 5)
in year t, where t = 0 represents 2000. Saudi Arabia's crude oil production over the same period can be approximated by
Q(t) = 0.082t2 − 0.22t + 8.2 million barrels per day† (0 ≤ t ≤ 5)
Use these models to estimate Saudi Arabia's daily oil revenue and also its rate of change in 2003. (Round your answers to the nearest $1 million.)

Question

The spot price of crude oil during the period 2000-2005 can be approximated by
P(t) = 5t + 25 dollars per barrel    (0 ≤ t ≤ 5)
in year t, where t = 0 represents 2000. Saudi Arabia's crude oil production over the same period can be approximated by
Q(t) = 0.082t2 − 0.22t + 8.2 million barrels per day†    (0 ≤ t ≤ 5)
Use these models to estimate Saudi Arabia's daily oil revenue and also its rate of change in 2003. (Round your answers to the nearest $1 million.)