Jonsenbquestion: i point(s) poSsIbleThree years ago, the mean price of an existing single-family home was $243,732. 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.B. The mean price of a single family home in the broker's neighborhood is different from $243,732.OC. The mean price of a single family home in any neighborhood is $243,732.O D. The mean price of a single family home in the broker's neighborhood is less than $243,732.State the alternative hypothesis in words. Choose the correct answer below.O A. The mean price of a single family home in the broker's neighborhood is less than $243,732.O B. The mean price of a single family home in any neighborhood is $243,732.OC. The mean price of a single family home in the broker's neighborhood is $243,732.O D. The mean price of a single family home in the broker's neighborhood is different from $243,732.(b) State the hypotheses symbolically.Ho:= $ 243732< $ 243732(Type integers or decimals. Do not round.)(c) What would it mean to make a Type I error?The brokerrejectsthe hypothesis that the mean price isequal to$, when the true mean price isequal to(Type integers or decimals. Do not round.)(d) What would it mean to make a Type Il error?$, when the true mean price isless thanThe broker fails to reject the hypothesis that the mean price is(Type integers or decimals. Do not round.)less than(1,1)MoreMacBook ProG Search or type URLesc

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Answered: a) State the null and alternative…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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When a hypothesis test is being carried out, there are four different situations that can occur depending on the truthfulness of the null hypothesis. Type I error occurs when the following situation happen The null hypothesis is false, but we mistakenly fail to reject it. The null hypothesis is true, but we mistakenly reject it. The null hypothesis is false, and we reject it. The null hypothesis is true, and we fail to reject it.
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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.