Total number of pairs = 24 pairs.
Total cost of 24 pairs = $800 approximately.
Cost of each pair =
Plugging values in the above formula, we get
Cost of each pair =
If we divide 800 by 24, we get 33.33 approximately.
But in the given problem, estimated cost is given $28 per pair.
If we subtract 33.33-28, we get $5.33.
So, the estimated cost is $5.33 each pair less than the actual cost of each pair.
Therefore, $28 per pair is not a good estimate of the price.