Linear Modelinghard
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Consider the transformation Y=ln(Y)Y^* = \ln(Y) and X=ln(X)X^* = \ln(X) for a power model Y=αXβY = \alpha X^\beta. What is the interpretation of the slope β\beta in the transformed linear model ln(Y)=ln(α)+βln(X)\ln(Y) = \ln(\alpha) + \beta \ln(X)?