Based Question 1, what will be the estimated odds ratio of purchasing a new car during the next year for households that have the oldest family automobile to be 20 years compared to those that have the oldest family automobile to be 15 years controlling for annual family income?

Question 1 : A marketing research firm was engaged by an automobile manufacturer to conduct a pilot study to examine the feasibility of using logistic regression for ascertaining the likelihood that a family will purchase a new car during the next year. A random sample of 33 suburban families was selected. Data on annual family income (X1, in thousand dollars) and the current age of the oldest family automobile (X2, in years) were obtained. A follow-up interview conducted 12 months later was used to determine whether the family actually purchased a new car (Y=1) or did not purchase a new car (Y=0) during the year.

Logit(p) = -4.7393 + 0.0677X1 +0.5986X2