Assume that variables x and y have a significant correltation, and that the line of best fit has been calculated as 7.42.3x. One observation is (5, 14.4). = What is the predicted value of y for the value x = 5 ? What is the residual for the value x 5? What is the best interpretation for the residual? The value 5 is below the average value for y when y = 14.4 The value 14.4 is below the average value for y when x = 5. The value 14.4 is above the average value for y when x = = 5 The value 14.4 is above the average value for x when y = 14.4