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Thirty Employed Single Individuals Were Randomly Selected to Examine the Relationship

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Thirty employed single individuals were randomly selected to examine the relationship between their age (Age)and their credit card debt (Debt)expressed as a percentage of their annual income.Three polynomial models were applied and the following table summarizes Excel's regression results. Thirty employed single individuals were randomly selected to examine the relationship between their age (Age)and their credit card debt (Debt)expressed as a percentage of their annual income.Three polynomial models were applied and the following table summarizes Excel's regression results. Suppose the restriction β<sub>3</sub> = 0 is imposed on the cubic regression model Debt = β<sub>0</sub>+ β<sub>1</sub>Age + β<sub>2</sub>Age<sup>2</sup>+ β<sub>3</sub>Age<sup>3</sup>+ ε.What regression equation is obtained under this restriction? Suppose the restriction β3 = 0 is imposed on the cubic regression model Debt = β0+ β1Age + β2Age2+ β3Age3+ ε.What regression equation is obtained under this restriction?

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