The Following Regression Model Has Been Computed Based on a Sample

True/False

The following regression model has been computed based on a sample of fifty observations of part- time workers in which the individual weekly income was the dependent variable and hours worked is the independent variable : = 43.2 + 25.2x. The first observations in the sample for y and x were 350 and 15, respectively. Given this, the residual value for the first observation is approximately 71.2.