7. For the following problem, determine the null and alternative hypothesis, explain what it would mean...

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7. For the following problem, determine the null and alternative hypothesis, explain what it would mean to make a type I error and also what it would mean to make a type II error; a. According to the National Association of Home Builders, the mean price of a 3-bedroom house as at 2010 was $150,000.00. Due to the recent stability of the economy, a real estate broker believes the mean price will not be same in recent times. b. The average score for high school Math for the last 10 years is 70%, a researcher believes that this year's average will be better than previous years due to the extensive work done by both students and teachers. 7. For the following problem, determine the null and alternative hypothesis, explain what it would mean to make a type I error and also what it would mean to make a type II error; a. According to the National Association of Home Builders, the mean price of a 3-bedroom house as at 2010 was $150,000.00. Due to the recent stability of the economy, a real estate broker believes the mean price will not be same in recent times. b. The average score for high school Math for the last 10 years is 70%, a researcher believes that this year's average will be better than previous years due to the extensive work done by both students and teachers.

Answer rating: 100% (QA)

Answer A Null hypothesis Ho u 150000 Alternate hypothesis Ha u not ... View the full answer