The population of the city of Long Beach is growing very quickly, and there is a chance the high school may be overcrowded in a few years. Should we invest millions of dollars to build a new, bigger school right now? Students use three different regression models (linear, logarithmic, and exponential) to make three different predictions for the future of the town.
If you were a tax-payer, which regression model would you use?
If you were a school construction company, which regression model would you use?
Which is the "right" regression model?