Hubbert attempted to model proposes a function with 2 adjust

Hubbert attempted to model proposes a function with 2 adjustable parameters. By fitting that function to historical data, the two parameters are calculated. Using those parameters, projections are made about future oil production. What is the simple basic assumption Hubbert made about the rate of oil production?

Solution

Ho : The projection of future oil production is independent of rate of oil production.

H₁: The projection of future oil production is dependent on rate of oil production.