Linear Modelingmedium
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Using the utility model y^=4205.5x\hat{y} = 420 - 5.5x, where yy is the heating bill in dollars and xx is the temperature in F^\circ\text{F}, a customer notes that during a month with an average temperature of 30F30^\circ\text{F}, their actual heating bill was \270$. What is the residual value for this household?