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Why do we take logs of variable in Regression analysis?
We should remember that a regression equation has two parts
i) The Dependent variable (Predictand)
ii) The Independent variables (Predictors) ; which can be one or more and can be of different types (Categorical or Continuous).
The nature of the regression that we should run depends on the type of Dependent variable that we are dealing with in our model. For example, if the dependent variable is Continuous…Continue