Thanks to Smaller and More Fuel-Efficient Models, American Carmakers Have

question 73

Short Answer

Thanks to smaller and more fuel-efficient models, American carmakers have doubled their average fuel economy over a 13-year period, from 1974 to 1987. The graph depicted in the figure gives the average fuel consumption in miles per gallon (mpg) of domestic-built cars over the period under consideration ( corresponds to the beginning of 1974). Use the trapezoidal rule to estimate the average fuel consumption of the domestic car built during this period. Round the result to the nearest hundredth.
(Hint: Approximate the integral ​ )

Please round your answer to two decimal places. __________ mpg

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Definitions:

Optimal Initial Cash Balance

Optimal initial cash balance is the ideal amount of cash a business should hold at the start of a period to meet operational needs and minimize costs, considering factors like transaction costs and opportunity costs.

Monthly Standard Deviation

A statistical measure that represents the variability or volatility of an asset's returns over a month.

Market Rate of Return

The average rate of return anticipated by investors in the overall market for a particular investment category.

Collection Float

The time period between when a check is deposited and when it is cleared and the funds are available.