Choose the one alternative that best completes the statement or answers the question.
-A life insurance company uses the following rate table for annual premiums for women for term life insurance. Use a graphing utility to fit an exponential function to the data. Predict the annual premium for a woman aged 70 years.
$\begin{array}{l|lllllll}
\text { Age } & 35 & 40 & 45 & 50 & 55 & 60 & 65 \
\hline \text { Premium } & \$ 103 & \$ 133 & \$ 190 & \$ 255 & \$ 360 & \$ 503 & \$ 818
\end{array}$
A) $y = 0.0000398 x ^ { 4.06 } , \$ 1233$
B) $y = 8.94 \mathrm { e } ^ { 0.068 x , } \$ 1044$
C) $y = 6.367 \mathrm { e } ^ { 0.068 \mathrm { x } } , \$ 743$
D) $y = - 9306.4 + 2516.3 \ln ( x ) , \$ 1723$

Question

Choose the one alternative that best completes the statement or answers the question.
-A life insurance company uses the following rate table for annual premiums for women for term life insurance. Use a graphing utility to fit an exponential function to the data. Predict the annual premium for a woman aged 70 years.
$\begin{array}{l|lllllll}
\text { Age } & 35 & 40 & 45 & 50 & 55 & 60 & 65 \
\hline \text { Premium } & \$ 103 & \$ 133 & \$ 190 & \$ 255 & \$ 360 & \$ 503 & \$ 818
\end{array}$ 
A) $y = 0.0000398 x ^ { 4.06 } , \$ 1233$
B) $y = 8.94 \mathrm { e } ^ { 0.068 x , } \$ 1044$
C) $y = 6.367 \mathrm { e } ^ { 0.068 \mathrm { x } } , \$ 743$
D) $y = - 9306.4 + 2516.3 \ln ( x ) , \$ 1723$

Quizplus · Accepted Answer

The exponential function $y = 8.94 \mathrm{e}^{0.068x}$ fits the data well, and using it to predict the premium for age 70 gives approximately \$1044.

Choose the One Alternative That Best Completes the Statement or Answers