Question: Graph the following models (for ease of exposition, we have omitted the observation subscript, i): a. Y = 1 X 2 , for

Graph the following models (for ease of exposition, we have omitted the observation subscript, i):

a. Y = β1Xβ2, for β2 > 1, β2 = 1, 0 < β2 < 1, …

b. Y = β1eβ2X, for β2 > 0 and β2 < 0.

Discuss where such models might be appropriate.

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