Question: Interpret the following

(a) Y^ = a + β^X; Y^ = 3.5 + .7X, where Y^ = likelihood of buying new car and X = total family income. (NOTE – the ^ symbol, which is to the right of a letter, actually belongs over the letter to its left – I just can’t get it to display there).

(b) Y^ = a + β^X; Y^ = 3.5 - .4X, where Y^ = likelihood of buying tickets to a rock concert and X = age. (NOTE – the ^ symbol, which is to the right of a letter, actually belongs over the letter to its left – I just can’t get it to display there).