Gasoline Price Analysis in July

On what day in July did the price of gasoline reach its maximum?

a) July 1
b) July 14
c) July 31
d) July 7

What was the highest price of gasoline in July?

a) $1.325
b) $0.448
c) $0.014
d) $1.767

Final answer: The price of gasoline reached its maximum on July 16 and the highest price was $1.767.

Explanation: The day on which the price of gasoline reached its maximum can be found by taking the derivative of the price equation given, which is a quadratic function. The derivative of -0.014s^2 + 0.448s + 1.325 is -0.028s + 0.448. By setting it equal to zero and solving for s, we get s = 16. As such, on July 16th, the price of gasoline reached its maximum. Substituting s = 16 into the original equation gives the highest price of gasoline in July which is $1.767.