A model in which both the response variable and the explanatory variable are transformed into their natural logarithms is better known as a(n)_____________.
A) exponential model
B) logarithmic model
C) linear model
D) log-log model

Question

Quizplus · Accepted Answer

When both the response variable and the explanatory variable are transformed into their natural logarithms, the resulting model is a log-log model. This transformation is often used for data that exhibits exponential growth or decay. The log-log model allows for a linear relationship between the logged variables, making it easier to interpret and visualize the relationship between the variables.

A Model in Which Both the Response Variable and the Explanatory