(Solved): Two variables are defined, a regression equation is given, and one data point is given. \( \mathrm{ ...

Two variables are defined, a regression equation is given, and one data point is given. \( \mathrm{Hgt}= \) height in inches Age \( = \) age in years of a child \( \hat{H g t}=24+2.72(\mathrm{Age}) \) The data point is a child 12 years old who is 60 inches tall. (a) Find the predicted value for the data point and compute the residual. Enter the exact answers. Predicted value \( = \) inches Residual = inches (b) Interpret the slope in context.