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15 Three years ago the mean price of an existing single family home was 243...

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15 Three years ago the mean price of an existing single family home was 243 713 A real estate broker believes that existing home prices in her neighborhood are lower a State the null and alternative hypotheses in words b State the null and alternative hypotheses symbolically c Explain what it would mean to make a Type I error d Explain what it would mean to make a Type Il error State the alternative hypothesis in words Choose the correct answer below OA The mean price of a single family home in the broker s neighborhood is less than 243 713 OB The mean price of a single family home in the broker s neighborhood is different from 243 713 OC The mean price of a single family home in the broker s neighborhood is 243 713 O D The mean price of a single family home in any neighborhood is 243 713

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