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psrt c and d Three years ago, the mean price of a single-family home was $243,726. A real estate broker believes that the mean price

psrt c and d

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Three years ago, the mean price of a single-family home was $243,726. A real estate broker believes that the mean price has increased since then. The null and alternative hypotheses are Ho: H = $243,726, He: H > $243,726. . . . .. c. Explain what it would mean to make a correct decision. A. A correct decision would occur if u # $243,726 and the results of the sampling lead to the rejection of that fact; or if u = $243,726 and the results of the sampling do not lead to that conclusion. O B. A correct decision would occur if u = $243,726 and the results of the sampling do not lead to the rejection of that fact; or if u > $243,726 and the results of the sampling lead to that conclusion. O C. A correct decision would occur if u = $243,726 and the results of the sampling lead to the rejection of that fact; or if u > $243,726 and the results of the sampling do not lead to that conclusion. d. Now suppose that the results of carrying out the hypothesis test lead to nonrejection of the null hypothesis. Classify that conclusion by error type or as a correct decision if in fact the mean price of a single family home equals $243.726

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