A scatter diagram includes the following data points:
Two regression models are proposed: (1) 
, and (2) 
. Using the least squares method, which of these regression models provides the better fit to the data? Why?
Definitions:
Product Life Cycle
The progression of a product through stages from introduction to growth, maturity, and decline in the market.
Product Life Cycle Curve
The product life cycle curve is a graphical representation that illustrates the stages through which a product goes from its introduction to the market through growth, maturity, and decline.
Technological Change
The innovation and development of new technologies or the improvement of existing ones, impacting how we live and work.
Product Life Cycles
This refers to the progression of products through developmental and market phases, from their conception and launch to their growth, maturation, and eventual phase-out.
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