Question: According to the National Association of Home Builders the mean

According to the National Association of Home Builders, the mean price of an existing single-family home in 2009 was $218,600. A real estate broker believes that because of the recent credit crunch, the mean price has decreased since then.
(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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  • CreatedApril 28, 2015
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