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Exponential Regression Models

Definition

Exponential regression models are statistical models that describe the relationship between two variables using an exponential function. These models are used when the rate of change of one variable is proportional to its current value.

Analogy

Imagine you have a pet hamster that keeps growing at a constant rate every day. The size of your hamster can be modeled using an exponential regression model because its growth is proportional to its current size.

Related terms

Power Regression Models: Power regression models are statistical models that describe the relationship between two variables using a power function. These models are used when the rate of change of one variable depends on the exponent of another variable.

Logarithmic Transformation: Logarithmic transformation is a mathematical technique used to transform data so that it becomes more linear. It involves taking the logarithm of each data point, which can help in fitting linear or other types of regression models.

Linear Regression Models: Linear regression models are statistical models that describe the relationship between two variables using a straight line. These models assume a constant rate of change between the variables.