I am running some least squares linear regression on nonlinear data. I considered linearising by taking the log of both the IV's and DV and also by only taking the log of the DV.
Both linearise the data fairly well (R^2>0.95), with loglog performing slightly better. However when I check for heteroskedasticity using the white test, the semilog transformation shows less heteroskedasticity.
What is this saying about the underlying structure of my data and which transform should I use? I know for loglog the relationship should be y=ax^k and for semilog the relationship should be y=ba^(cx) but what does it mean in this case where both are acceptable?
Many thanks!