Insurance Rates The following table gives the monthly insurance rates for a $100,000 life insurance policy for smokers 35–50 years of age.
a. Create a scatter plot for the data.
b. Does it appear that a quadratic function can be used to model the data? If so, find the best-fitting quadratic model.
c. Find the power model that is the best fit for the data.
d. Compare the two models by graphing each model on the same axes with the data points. Which model appears to be the better fit?
Age (yr) | Monthly Insurance Rate ($) | Age (yr) | Monthly Insurance Rate ($) |
35 | 17.32 | 43 | 23.71 |
36 | 17.67 | 44 | 25.11 |
37 | 18.02 | 45 | 26.60 |
38 | 18.46 | 46 | 28.00 |
39 | 19.07 | 47 | 29.40 |
40 | 19.95 | 48 | 30.80 |
41 | 21.00 | 49 | 32.55 |
42 | 22.22 | 50 | 34.47 |
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.