Operations Management
Operations Management
13th Edition
ISBN: 9781259667473
Author: William J Stevenson
Publisher: McGraw-Hill Education
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Chapter 3, Problem 23P

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 die current age of the head of the household. The equation is:

y = 850 – 1x

where

y = Insurance needed($000)

x = Current age head of household

a. Plot the relationship on a graph.

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 30 years old.

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Chapter 3 Solutions

Operations Management

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