Interpret the following:

a. Y =.11+.009X , where Y is the likelihood of sending children to college and X is family income in thousands of dollars. Remember: It is family income in thousands.

(1) According to our model, how likely is a family with an income of $100,000 to send their children to college?

(2) What is the likelihood for a family with an income of $50,000?

(3) What is the likelihood for a family with an income of $17,500?

(4) Is there some logic to the estimates? Explain.

b. Y =.25−.0039X , where Y is the likelihood of going to a skateboard park and X is age.

(1) According to our model, how likely is a 10-yearold to go to a skateboard park?

(2) What is the likelihood for a 60-year-old?

(3) What is the likelihood for a 40-year-old?

(4) Is there some logic to the estimates? Explain.