Pot Equity vs. Pot Odds vs. Effective Odds

[wmiller]

How do I decide when to use pot equity, pot odds, or effective odds? For example, $1-$2 game,person in early position calls, person in middle position calls, I call in late position with Q [img]/images/graemlins/heart.gif[/img]9 [img]/images/graemlins/heart.gif[/img], SB folds, BB raises, everyone calls. Flop is 5 [img]/images/graemlins/heart.gif[/img]3 [img]/images/graemlins/heart.gif[/img]K [img]/images/graemlins/club.gif[/img]. BB bets, everyone folds to me. Here is where I am confused.

My pot equity is 35%? BB's is 65%? So, I should fold?

or,

My pot odds are 9.5 to 1 vs. my chances of hitting of 4.2 to 1? So, I should call? Or,

My effective odds are 13.5 to 3, or 4.5 to 1 (assuming BB at least calls a bet on the end) vs. my odds of hitting with two cards to come of 1.86 to 1? Should I use the 1.86 to 1 here? So, I call?

Sorry if this has been asked before-couldn't find it.