I'd like to perform an exponential regression with multiple independent variables (similar to the LOGEST function in Excel)
I'm trying to model the function $Y = b {m_1}^{x_1}{m_2}^{x_2}$ where $b$ is a constant, $x_1$ and $x_2$ are my independent variables, and $m_1$ and $m_2$ are the coefficients of the independent variables.
I think I can linearize the function by doing something like glm(log(Y) ~ x1 + x2)
but I don't totally understand why that would work. Also, I'd like to run a true non-linear regression if there is such a thing.
My goal is to run both a linear and an exponential regression, and find the best fit line based on the higher $R^2$ value.
I would also really appreciate your help in understanding how to plot the predicted curve in a scatter plot of my data as well.
Best Answer
As a start: