Question

he statement “Over the past several years, our organization’s budget has increased about 6 percent every...

he statement “Over the past several years, our organization’s budget has increased about 6 percent every year” is based on the results of a regression model that uses budget as the outcome (Y) variable and time as the predictor (X) variable. What type of regression model was used?

Need to know which is the answer:

Linear regression model

Exponential regression model

Logarithmic regression model

Power regression model

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Answer #1

Since the increase is being represented in percentages, Power regression model is being used.

Option D is correct.

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