Question
Three years​ ago, the mean price of an existing​ single-family home was
​$243,722.
A real estate broker believes that existing home prices in her neighborhood are
lower.
​(a)
Determine the null and alternative hypotheses.
​(b)
Explain what it would mean to make a Type I error.
​(c)
Explain what it would mean to make a Type II error.

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Hypothesis Testing

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