Three years ago, the mean price of an existing single-family home was $243,784. A real estate broker believes that existing home prices in her neighborhood are higher. (a) Determine the null and alternative hypotheses. (b) Explain what it would mean to make a Type I error. (c) Explain what it would mean to make a Type II error. (a) State the hypotheses I I (Type integers or decimals. Do not round.) (b) Which of the following is a Type | error? O A. The broker fails to reject the hypothesis that the mean price is $243,784, when it is the true mean cost. O B. The broker fails to reject the hypothesis that the mean price is $243,784, when the true mean price is greater than $243,784. O C. The broker rejects the hypothesis that the mean price is $243,784, when the true mean price is greater than $243,784. O D. The broker rejects the hypothesis that the mean price is $243,784, when it is the true mean cost. (c) Which of the following is a Type II error? A. The broker rejects the hypothesis that the mean price is $243,784, when it is the true mean cost. O B. The broker fails to reject the hypothesis that the mean price is $243,784, when it is the true mean cost O C. The broker rejects the hypothesis that the mean price is $243,784, when the true mean price is greater than $243 784 O D. The broker fails to reject the hypothesis that the mean price is $243,784, when the true mean price is greater than $243,784