- #1
Old Guy
- 103
- 1
I am familiar with linear regression and the correlation coefficient. My current problem involves a data set that is pretty linear on a log-log plot. I have calculated the slope by taking logs of all my x's and y's, and doing the linear regression on the transformed data set. The resulting slope appears to be correct, and I'm happy with that.
The question is, how good a fit do I have on the data? I planned to simply calculate the correlation coefficient on the transformed data, but a coworker challenged this - said that the transformations alter the measurements in a way that makes the typical correlation coefficient calculation invalid.
Is that correct? And if it is, what is the correct measure of goodness of fit for log-log data? Thanks.
The question is, how good a fit do I have on the data? I planned to simply calculate the correlation coefficient on the transformed data, but a coworker challenged this - said that the transformations alter the measurements in a way that makes the typical correlation coefficient calculation invalid.
Is that correct? And if it is, what is the correct measure of goodness of fit for log-log data? Thanks.