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.
Example:
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.
