PLEASE HELP ME ANSWER THIS QUESTIONS! Long-Life Insurance has developed a linear

Question

PLEASE HELP ME ANSWER THIS QUESTIONS!

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 = 159 -0.25x

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 49 years old. (Round your answer to 2 decimal places. Omit the "$" sign in your response.)

Amount of term life insurance             $ --------------- thousands

Explanation / Answer

y=159-0.25X X= Current age of head household = 49 Year old Y=159-0.25*49 146.75 Amount of term life insurance required will $146.75 thousand

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