Answer :
The residual value when the price of jeans is $28.00 is -15.13
How to determine the residual?
The equation of the line of best fit is:
y= -1.75x+92.13
When the price of jeans is $28.00, we have:
y= -1.75*28+92.13
Evaluate
y= 43.13
The residual value is then calculated as:
Residual = Actual - Observed
This gives
Residual = 28.00 - 43.13
Evaluate the difference
Residual = -15.13
Hence, the residual value when the price of jeans is $28.00 is -15.13
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