This question 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) Determine the null and alternative hypotheses. (b) Explain what it would mean to make a Type | error. (c) Explain what it would mean to make a Type II error. (a) State the hypotheses. Ho 243,761 243,761 Type integers or decimals. Do not round.) (b) Which of the following is a Type I error? O A. The broker fails to reject the hypothesis that the mean price is $243,761, when it is the true mean cost. O B. The broker rejects the hypothesis that the mean price is $243,761, when it is the true mean cost. C. The broker fails to reject the hypothesis that the mean price is $243,761, when the true mean price is less than $243,761. O D. The broker rejects the hypothesis that the mean price is $243,761, when the true mean price is less than $243,761. (c) Which of the following is a Type II error? O A. The broker fails to reject the hypothesis that the mean price is $243,761, when the true mean price is less than $243,761. O B. The broker fails to reject the hypothesis that the mean price is $243,761, when it is the true mean cost. C. The broker rejects the hypothesis that the mean price is $243,761, when it is the true mean cost. O D. The broker rejects the hypothesis that the mean price is $243,761, when the true mean price is less than $243,761