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Unformatted text preview: UF-ESI-6321UF-ESI-6321-13-02-03.xmcdpage 1 of 713.2.3Oil Well Drilling CostsConsider again the problem of estimating the costs of drilling oil wells, which was originally discussed in Problem 12.2.4. The data set given inDS 13.2.3 contains the variables geology,downtime,and rig-indexin addition to the variables depth(x<1>) and cost(y) considered before. Thevariable geology(x<2>) is a score that measures the geological properties of the materials that have to be drilled through. Harder materials havelarger scores, and so larger values of the geology variable indicate that harder materials have to be drilled through to complete the oil well. Thevariable downtime(x<3>) measures the number of hours that the drilling rig is idle due to factors such as inclement weather and interruptions forborehole 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 indexof 1implies 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>.x111111111111111150005200600065387109755680058207821086009026919799261081313800143113192412683455495524175686187676755046396419531165160121481206083914718014051137158560.6240000128746031.0099999904632500.6340000033378600.9029999971389770.5659999847412101.0340000391006401.2050000429153400.9060000181198120....
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This note was uploaded on 05/12/2010 for the course ESI 6321 taught by Professor Josephgeunes during the Spring '07 term at University of Florida.
- Spring '07