Jacob has a challenging training regimen. He trains for two hours every other day. Out of these two hours every other day. Out of these two hours, he jogs for 16 minutes, stretches for 8 minutes, sprint for 3 minutes, rides a bicycle for 12 minutes, and lifts weights for 28 minutes. The remaining time he is resting. What fraction of his training time is spent resting?

Jacob's total training time is 2 hours every other day, which is 2 * 60 minutes = <<2*60=120>>120 minutes.

The total time he spends jogging, stretching, sprinting, cycling and lifting is 16 + 8 + 3 + 12 + 28 = <<16+8+3+12+28=67>>67 minutes.
So, Jacob spends 120 - 67 = <<120-67=53>>53 minutes resting.
Therefore, the fraction of his training time spent resting is 53/120 = <<53/120=0.44166666666666665>>0.442. Answer: \boxed{0.442}.

To find the fraction of Jacob's training time spent resting, we first need to calculate the total time spent on various activities during his training session.

Total time spent on various activities:
Jogging: 16 minutes
Stretching: 8 minutes
Sprinting: 3 minutes
Bicycling: 12 minutes
Weightlifting: 28 minutes

Now let's calculate the total time spent on these activities:
Total time = Jogging + Stretching + Sprinting + Bicycling + Weightlifting
Total time = 16 minutes + 8 minutes + 3 minutes + 12 minutes + 28 minutes
Total time = 67 minutes

Now, to find the resting time, we subtract the total time spent on activities from the total training time:

Resting time = Total training time - Total time spent on activities
Resting time = 120 minutes - 67 minutes
Resting time = 53 minutes

So, Jacob spends 53 minutes resting during his training session.

To find the fraction, we divide the resting time by the total training time:

Fraction spent resting = Resting time / Total training time
Fraction spent resting = 53 minutes / 120 minutes
Fraction spent resting = 0.4417

Therefore, Jacob spends approximately 0.4417 or 44.17% of his training time resting.