Suppose Xi is income of an individual i and Yi is the event that this individual owns a house, Pi = prob (Yi = 1|Xi) and Zi = β1+ β2 Xi which of the following is true for the logit model?
1
\( P_i=\frac{1}{1-e^{-Z_i}} \)
2
\( P_i=\frac{1}{1+e^{Z_i}}\)
3
\( P_i=\frac{1}{1+e^{-Z_i}} \)
4
\( P_i=\frac{1}{1-e^{Z_i}} \)