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Suppose the nullypothesis is rected. State the conclusion based on the results of the test Three years ago, the mean price of
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Answer #1

It is given that the mean price of a single family home 243,701

The null hypothesis and alternative hypothesis can be stated is

H0 : \mu = 243,701

H1 : \mu < 243,701

It is also given that the null hypothesis can be rejected.

This mean that test results are there is not sufficient evidence to conclude that the mean price of a single family home has not changed.

Therefore option (D) is correct.

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