Please No graphs. I need help solving the problem with the computations
I am going to provide you a method to estimate a and b of the given model.
Given model is y = axb .
Taking logarithm base e on both sides we get
Where z=logey, c = logea, u = loge x
Calculate all the values of corresponding z and u.
Now this gives an equation with two unknowns and 7 data points (z,u).
We can solve this equation with the given data, to find the value of c and b.
estimate of c is given by mean of the z values. Then by taking antilog of c we get a, i.e. a = ec
The estimate of b is given by .
To show that it is a good fit, compute the MSE, i.e.
Where the are obtained from the estimated equation putting in the values of known u values.
Thank you. Hope this helps you with the computation.
Please No graphs. I need help solving the problem with the computations 9. The following table...
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