The residual value for the coordinate from the line of best fit is equal to 0.7 .
The line of best fit is y = 1.18x + 5.4 .
the given point is (5,12)
At x = 5 ,
y = 1.18 × 5 + 5.4
y = 11.3
Residual value = 12 - 11.3 = 0.7
Hence the residual value from the line of best fit is 0.7 .
A line of best fit is a straight line that minimizes the distance between it and some data. The line of best fit is used to represent a relationship in a scatter plot with numerous data points. Regression analysis produced it, and it serves as a tool for predicting indicators and price fluctuations.
The eyeball method can be used to roughly build a line of best fit by drawing a straight line on something like a scatter plot and making sure that the total number of points above and below the line is nearly equal (and the line passes through as many points as possible).
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