The following table gives the monthly premiums for an insurance policy on people of various ages. a. Find an exponential function that models the monthly premium as a function of age. b. Find the quadratic function that is the best fit for the data. c. Graph each function with the data points to determine which model is the better fit. a. The exponential function that models the data is y= 3.059 (1.104*). (Use integers or decimals rounded to the nearest thousandth as needed for any numbers in the expression.) b. The quadratic function that models the data is y= 6.188x2-557.818x+12,448.185. (Use integers or decimals rounded to the nearest thousandth as needed for any numbers in the expression.) Age 35 40 45 50 55 3 Monthly Premium (S) 127 164 242 362 559 Age 60 65 70 75 Full data set Monthly Premium (S) 946 1904 3485 5873

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
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Chapter1: Functions
Section1.4: Functions Given By Words
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The following table gives the monthly premiums for an insurance policy on people of various ages.
a. Find an exponential function that models the monthly
premium as a function of age.
b. Find the quadratic function that is the best fit for the data.
c. Graph each function with the data points to determine
which model is the better fit.
a. The exponential function that models the data is y= 3.059 (1.104*).
(Use integers or decimals rounded to the nearest thousandth as needed for any numbers in the expression.)
b. The quadratic function that models the data is y= 6.188x2-557.818x+12,448.185.
(Use integers or decimals rounded to the nearest thousandth as needed for any numbers in the expression.)
Age
35
40
45
50
55
Monthly
Premium (S)
127
164
242
362
559
Age
60
65
70
75
Full data set
Monthly
Premium (S)
946
1904
3485
5873
Transcribed Image Text:The following table gives the monthly premiums for an insurance policy on people of various ages. a. Find an exponential function that models the monthly premium as a function of age. b. Find the quadratic function that is the best fit for the data. c. Graph each function with the data points to determine which model is the better fit. a. The exponential function that models the data is y= 3.059 (1.104*). (Use integers or decimals rounded to the nearest thousandth as needed for any numbers in the expression.) b. The quadratic function that models the data is y= 6.188x2-557.818x+12,448.185. (Use integers or decimals rounded to the nearest thousandth as needed for any numbers in the expression.) Age 35 40 45 50 55 Monthly Premium (S) 127 164 242 362 559 Age 60 65 70 75 Full data set Monthly Premium (S) 946 1904 3485 5873
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