Determine the null and alternative? hypotheses
Determine the null and alternative? hypotheses
Subject: Mathematics / Statistics
Question
a) Determine the null and alternative? hypotheses,
(b) explain what it would mean to make a type I? error, and? (c) explain what it would mean to make a type II error.
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Three years? ago, the mean price of a? single-family home was ?$243,759. A real estate broker believes that the mean price hasdecreased since then.
Which hypothesis test is to be? conducted?
Which of the following is a type I? error?
A.The broker rejects the hypothesis that the mean price is ?$243,759?, when it is the true mean cost.
B.The broker rejects the hypothesis that the mean price is ?$243,759?, when the true mean price isless than ?$243,759.
C.The broker fails to reject the hypothesis that the mean price is ?$243,759?, when the true mean price isless than ?$243,759.
?
Which of the following is a type II? error?
A.The broker fails to reject the hypothesis that the mean price is ?$243,759?, when it is the true mean cost.
B.The broker fails to reject the hypothesis that the mean price is ?$243,759?, when the true mean price isless than ?$243,759.
C.The broker rejects the hypothesis that the mean price is ?$243,759?, when it is the true mean cost.