Three years ago, the mean price of an existing single-family home was $243,752. 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. Hy : (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 $243,752, when the true mean price is less than $243,752. O B. The broker fails to reject the hypothesis that the mean price is $243,752, when it is the true mean cost. O C. The broker rejects the hypothesis that the mean price is $243,752, when the true mean price is less than $243, 752. O D. The broker rejects the hypothesis that the mean price is $243,752, when it is the true mean cost. (c) Which of the following is a Type II error? O A. The broker rejects the hypothesis that the mean price is $243,752, when the true mean price is less than $243,752. O B. The broker fails to reject the hypothesis that the mean price is $243,752, when it is the true mean cost. O C. The broker rejects the hypothesis that the mean price is $243,752, when it is the true mean cost. O D. The broker fails to reject the hypothesis that the mean price is $243,752, when the true mean price is less than $243, 752