Three years ago, the mean price of an existing single-family home was $243,771. A real estate broker believes that existing home prices in her neighborhood are lower. (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. (a) State the hypotheses. H0: ▼ pp muμ sigmaσ ▼ greater than> equals= not equals≠ less than $nothing H1: ▼ pp sigmaσ muμ ▼ not equals≠ greater than> less than equals= $nothing (Type integers or decimals. Do not round.)

Three years ago, the mean price of an existing single-family home was $243,771. A real estate broker believes that existing home prices in her neighborhood are lower. (a) Determine the null and...

Three years ago, the mean price of an existing single-family home was

$243,771.

A real estate broker believes that existing home prices in her neighborhood are

lower.

(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.

(a) State the hypotheses.

H0:

▼

muμ

sigmaσ

▼

greater than>

equals=

not equals≠

less than

$nothing

H1:

▼