An exponential regression is the process of finding the equation of the exponential function that fits best for a set of data. As a result, we get an equation of the form where .
The relative predictive power of an exponential model is denoted by R 2 . The value of R 2 varies between 0 and 1. The more close the value is to 1, the more accurate the model is.
Consider the set of data. Determine the exponential regression for the set.
(0, 3), (1, 7), (2, 10), (3, 24), (4, 50), (5, 95)
Enter the x -coordinates and y -coordinates in your calculator and do an exponential regression. The equation of the function that best approximates the points is .
Plot the graph. You should get a graph like this.