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Answer:
Type 2 ERROR is the failure to reject null when it is false
The broker fails to reject the hypothesis that the mean price is $243,7286, when the true mean price is less than $243,786
Hence option 1
Question 3 4 pts 3a1bd5c 5a0-85b Three years ago, the mean price of an existing single-family...
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9) Three years ago, the mean price of a single-family home was $243,706. A real estate broker believes that the mean price has decreased since then. (a) Which of the following is the hypothesis test to be conducted? A) H0: u = $243,706; H1: u < $243,706 B) H0: u = $243,706; H1: u does not equal $243,706 C) H0: u = $243,706; H1: u > $243,706 (b) Which of the following is a type I error? A) The broker...
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Three years ago, the mean price of an existing single-family home was $243 comma 724. A real estate broker believes that existing home prices in her neighborhood are higher. (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.
Three years ago, the mean price of an existing single-family home was $243 comma 743. A real estate broker believes that existing home prices in her neighborhood are higher. (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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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...
(a) Desem ne the nut and anernaive bypoteses, b) explain what it woukd mean to make a t pe l error and (c) ertain what it would mean to make a type II en Three years ago the mean price of a single-tamily home was $243,743. A real estate broker believes that the mean price has decreased since then (a) Which of the tollowing is the hypothesis test to be conducted? OA. Ho -$243,743,H H<$243,743 ??, ?? ?.$243,743. Hip>$243,743 ??,...
Homework: 4-2 MyStatLab: Module Four Problem Set Save Score: 0 of 3 pts 3 of 15 (2 complete) HW Score: 9.23%, 6 of 65 pts 10.1.17 Question Help Three years ago, the mean price of an existing single-family home was $243,768. A real estate broker believes that existing home prices in her neighborhood are higher. (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...