Solve the problem.General Insurance offers a $500,000 life insurance policy. Monthly rates for women and men are shown in the table for various ages. Monthly Rate (dollars)
Let W(t) and M(t) be the monthly rates (in dollars) for women and men, respectively, both at t years of age. Find the regression equation for M and predict how much a 38-year-old man would pay per month for a $500,000 policy.
A. M(t) = 0.79(1.07)t; 10.33
B. M(t) = 6.23(1.07)t; 81.48
C. M(t) = 6.44(1.08)t; 119.95
D. M(t) = 0.58(1.08)t; 10.80
Answer: D
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