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# Mathcad - UF-ESI-6321-13-02-03 - UF-ESI-6321 UF-ESI-03.xmcd...

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UF-ESI-6321 UF-ESI-6321-13-02-03.xmcd page 1 of 7 13.2.3 Oil Well Drilling Costs Consider again the problem of estimating the costs of drilling oil wells, which was originally discussed in Problem 12.2.4. The data set given in DS 13.2.3 contains the variables geology, downtime, and rig-index in addition to the variables depth ( x <1> ) and cost ( y ) considered before. The variable geology ( x <2> ) is a score that measures the geological properties of the materials that have to be drilled through. Harder materials have larger scores, and so larger values of the geology variable indicate that harder materials have to be drilled through to complete the oil well. The variable downtime ( x <3> ) measures the number of hours that the drilling rig is idle due to factors such as inclement weather and interruptions for borehole and geological tests. The variable rig-index ( x <4> ) compares the daily rental costs of the drilling rig to the cost in 1980. Thus, an index of 1 implies that the rental costs are identical to those in 1980, and an index of 2 implies that the rental costs are twice what they were in 1980. This worksheet will use Mathcad and the matrix methods introduced later in the chapter by inserting a value of 1 for x <0> .

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Mathcad - UF-ESI-6321-13-02-03 - UF-ESI-6321 UF-ESI-03.xmcd...

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