Answered: Which statement best describes the…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Related questions

Question

Review the table showing the balance in an investment account over time.

Time (Years)	Amount ($)
1	300
6	444
7	486
9	576
15	990
20	1,483
25	2,200
30	3,614
35	5,833

Which statement best describes the values of a and b in the regression model?

In the power regression model, a represents the initial value and b represents the growth factor.

In the power regression model, a represents the growth factor and b represents the initial value.

In the exponential regression model, a represents the initial value and b represents the growth factor.

In the exponential regression model, a represents the growth factor and b represents the initial value.

Expert Solution

Step 1

A regression model provides a function that describes the relationship between one or more independent variables and response, dependent, or target variable.

Regression analysis is the basis for many types of prediction and for determining the effects on target variables. A linear regression line has an equation of the form Y=a+bX.