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Math Help - Sample data is closer to a simple linear model or an exponential model?

  1. #1
    Lok
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    Sample data is closer to a simple linear model or an exponential model?

    A guy wants to know if this data sample is closer to a simple linear model or to an exponential model.
    The table below represents 4 machines. We want to know the cost in function of the age of the machine. So X:age and Y:maintenance cost

    Age 1 | 1.7 | 2 | 2.25
    cost 0.5| 0.6 | 1.2 | 2

    Either linear
    Y = B_0 + B_1X
    or Exponential
    Y = ae^{bx}

    Any tips to get me started?
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  2. #2
    Flow Master
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    Quote Originally Posted by Lok View Post
    A guy wants to know if this data sample is closer to a simple linear model or to an exponential model.
    The table below represents 4 machines. We want to know the cost in function of the age of the machine. So X:age and Y:maintenance cost

    Age 1 | 1.7 | 2 | 2.25
    cost 0.5| 0.6 | 1.2 | 2

    Either linear
    Y = B_0 + B_1X
    or Exponential
    Y = ae^{bx}

    Any tips to get me started?
    Fit the data to each model and look at r^2.
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  3. #3
    Lok
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    How do I fit the data to the models?
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  4. #4
    Flow Master
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    Quote Originally Posted by Lok View Post
    How do I fit the data to the models?
    Use technology. eg. TI-89 calculator, suitable software. It can even be done by hand (but very tedious).
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