An insurance company charges a 35-year old non-smoker an annual premium of $118 for a $100,000 term life insurance policy. the premiums for 45-year olds and 55-year old no smokers are $218 and $563, respectively. write a quadratic model for the premium p as a function of age a.

Step-by-step explanation:

Let premium p for age of a , (p,a)

# An insurance company charges a 35-year old non-smoker an annual premium of $118 for a $100,000 term life insurance policy.

(35,118)

# An insurance company charges a 45-year old non-smoker an annual premium of $218 for a $100,000 term life insurance policy.

(45,218)

# An insurance company charges a 55-year old non-smoker an annual premium of $563 for a $100,000 term life insurance policy.

(55,563)

Let quadratic model be p=Aa²+Ba+C

Substitute the points into equation

-------------(1)

-------------(2)

-------------(3)

Solve system of equation and find out A, B and C using calculator.

Quadratic model:

a - base

b - exponent

so,

to determine the unit cost your would divide the total cost by the number sold.

7 bagels for $4.41       $4.41/7 = $.63 each at fresh side

5 bagels for $3.60         $3.60/5 = $.72 each at value mart