### Hypothesis Testing and Error Types**Scenario:**Three years ago, the mean price of an existing single-family home was $243,761. A real estate broker believes that existing home prices in her neighborhood are lower.**Tasks:****(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 II error.**---**(a) State the null hypothesis in words. Choose the correct answer below.**- **A.** The mean price of a single-family home in the broker's neighborhood is $243,761.- **B.** The mean price of a single-family home in the broker's neighborhood is different from $243,761.- **C.** The mean price of a single-family home in the broker's neighborhood is less than $243,761.- **D.** The mean price of a single-family home in any neighborhood is $243,761. **Answer: A**

a)It is needed to define the null and alternative hypotheses.

Three years ago, the mean price of an existing single-family home was $243,761. 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. (a) State the null hypothesis in words. Choose the correct answer below. O A. The mean price of a single family home in the broker's neighborhood is $243,761 OB. The mean price of a single family home in the broker's neighborhood is different from $243,761. OC. The mean price of a single family home in the broker's neighborhood is less than $243,761. O D. The mean price of a single family home in any neighborhood is $243.761

Three years ago, the mean price of an existing single-family home was $243,761. 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. (a) State the null hypothesis in words. Choose the correct answer below. O A. The mean price of a single family home in the broker's neighborhood is $243,761 OB. The mean price of a single family home in the broker's neighborhood is different from $243,761. OC. The mean price of a single family home in the broker's neighborhood is less than $243,761. O D. The mean price of a single family home in any neighborhood is $243.761

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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