The logarithmic and log-log models, y = β₀ + β₁ln(x) + ε and ln(y) = β₀ + β₁ ln(x) + ε, were fit given data on y and x, and the following table summarizes the regression results. Which of the two models provides a better fit? A) The logarithmic model. B) The log-log model. C) The models are comparable. D) The provided information is not sufficient to make the conclusion.

Question

Quizplus · Accepted Answer

The Answer of The logarithmic and log-log models, y = β₀ + β₁ln(x) + ε and ln(y) = β₀ + β₁ ln(x) + ε, were fit given data on y and x, and the following table summarizes the regression results. Which of the two models provides a better fit? A) The logarithmic model. B) The log-log model. C) The models are comparable. D) The provided information is not sufficient to make the conclusion.

The Logarithmic and Log-Log Models, Y = β0 + β1ln(x)

The Logarithmic and Log-Log Models, Y = β₀ + β₁ln(x)