Operation and Management
Long-Life Insurance has developed a linear model that it uses to determine the amount of term life insurance a family of four should have, based on the current age of the head of the household. The equation is: |
| y = 161 – .2x |
| where |
| y = Insurance needed ($000) |
| x = Current age of head of household |
| b. | Use the equation to determine the amount of term life insurance to recommend for a family of four if the head of the household is 21 years old. (Round your answer to 1 decimal place. Omit the "$" sign in your response.) |
11 years ago 1
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