Question: Problem 3-23 Long-Life Insurance has developed a linear model that it uses to determine the amount of term life insurance a family of four should

Problem 3-23 Long-Life Insurance has developed a

Problem 3-23 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 -0.35x where y= Insurance needed ($000) x = Current age of head of household b. Use the equation to determine the amount of term life insurance to recommend for a family of four if the head of the household is 51 years old. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Amount of term life insurance $ thousands

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