Typical algorithms used to compute logarithms are not quick and have a variable execution time depending on the input value. The technique [Ihsan] is using is both fast and has a constant run time.

A scientific calculator has two 'log' buttons on it. These are marked log and ln. The log key is used for calculations of the form \({\log _{10}}x\). For example, to work out that \(\log 10000 = 4 ...

Taken from Introduction to Econometrics from Stock and Watson, 2003, p. 215: Y=B0 + B1*ln(X) + u ~ A 1% change in X is associated with a change in Y of 0.01*B1 ln(Y)=B0 + B1*X + u ~ A change in X by ...

Now that you know what \({\log _a}x\) means, you should know and be able to use the following results, known as the laws of logarithms.