need help doing this problem

Three years ago, the mean price of an existing singlefamily home was $243,774. A real estate broker believes that existing home prices in her neighborhood are lower. [3} 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. {a} State the hypotheses. H: Y '55 H1: Y '55 [Type integers or decimals. Do not round.) {b} Which ofthe ollowing is a Type I error? 0 A. The brokerfails to reject the hypothesis that the mean price is $243,774, when the true mean price is less than $243,774. 0 B. "he broker rejects the hypothesis that the mean price is $243,774, when the true mean price is less than $243,774. 0 C. "he brokerfails to reject the hypothesis that the mean price is $243,774, when it is the true mean cost. 0 D. "he broker rejects the hypothesis that the mean price is $243,774, when it is the true mean cost. {c} Which of the following is aType ll error? 0 A. "he broker rejects the hypothesis that the mean price is $243,774, when the true mean price is less than $243,774. 0 B. "he brokerfails to reject the hypothesis that the mean price is $243,774, when it is the true mean cost. 0 C. "he broker rejects the hypothesis that the mean price is $243,774, when it is the true mean cost. O D. "he brokerfails to reject the hypothesis that the mean price is $243,774, when the true mean price is less than $243,774