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Power Regression Models

Definition

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.

Analogy

Think about how much energy you need to ride your bike uphill. The amount of energy required increases exponentially with steeper slopes, and this relationship can be described by a power regression model.

Related terms

Exponential Regression Models: 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.

Quadratic Regression Models: Quadratic regression models are statistical models that describe the relationship between two variables using a quadratic function (a parabola). These models are used when the relationship between the variables is curved.

Nonlinear Regression Models: Nonlinear regression models are statistical models that describe the relationship between two variables using a nonlinear function. These models can capture more complex relationships than linear regression models.