Question

Question Holo Three years ago, the mean price of a single-family home was $243,738. A real estate broker believes that the mean price has decreased since then. The null and alternative hypotheses are H, 1 = $243,738, H<$243.738. a. Explain what it would mean to make a type error O A. Atype error would occur it in fact p $243,738, but the results of the sampling load to the conclusion that <$243.738 OB. A type I error would occur it in fact - $243,738, but the results of the samping fail to lead to the conclusion that *5243.738 OC. Atype I error would occur it in fact < $243,738, but the results of the sampling lead to the onclusion that $243.738 b. Explain what it would mean to make a type Il error O A. Atype Il error would occur it in fact < $243,738, but the results of the camping fail to lead to the conclusion that $243,738, OB. Atype Il error would occur in fact $243,738, but the results of the sampling lead to the conclusion that 5243.738 OC. A type Il error would occur it in fact - $243,738, but the results of the sampling lead to the conclusion that 203,738 c. Explain what it would mean to make a correct decision O A. A correct decision would occur it - $243,738 and the results of the sampling do not lead to the rejection of that factor if y5243738 and the results of the sampling lead to that conclusion OB. A correct decision would occur if * $243.738 and the results of the sampling lead to the rejection of that factors $243,738 and the results of the sampling do not load OC. A correct decision would occur if u = $243,738 and the results of the sampling lead to the rejection of that factor if <$243,738 and the results of the sampling do not load to the conclusion Name that the remind the hunthoclear in mind the nude thee that in the smart orici in otthamani that conclusion Click to select your answer

Answer 1

он
: µ = $243,738 vs
HO
: µ < $243,738

a) Type I error : We reject the null hypothesis H0 and conclude Ha is correct, but in fact H0 is true.

A. A type I error would occur if in fact µ = $243,738 ; but the result of the sampling lead to the conclusion that µ < $243,738

b) Type II error : We do not reject the null hypothesis H0 and conclude that H0 is correct , but in fact H0 is false.

A. A type II error occur if in fact µ < $243,738 , but the result of the sampling fail to lead to the conlcusion that µ < $243,738

c) Correct decision : We reject the false null hypothesis or we do not reject the correct null hypothesis.

A. A correct decision would occur if µ = $243,738 and the result of the sampling do not lead to the rejection of that fact or if µ < $243,738 and the result of the sampling lead to that conclusion.

d) Do not reject the null hypothesis H0, in fact the it is true H0 : µ = $243,738

B correct decision

e) Do not reject the null hypothesis H0 , in fact µ < $243,738

C. Type II error.