Question

Suppose the null hypothesis is not rejected not rejected. State the conclusion based on the results...

Suppose the null hypothesis is not rejected not rejected. State the conclusion based on the results of the test.

Three years​ ago, the mean price of a​ single-family home was ​$ 243,725 A real estate broker believes that the mean price has decreased decreased since then.

Which of the following is the correct​ conclusion?

A. There is is sufficient evidence to conclude that the mean price of a​ single-family home has decreased decreased.

B. There is not is not sufficient evidence to conclude that the mean price of a​ single-family home has decreased decreased.

C. There is not is not sufficient evidence to conclude that the mean price of a​ single-family home has not changed.

D. There is is sufficient evidence to conclude that the mean price of a​ single-family home has not changed.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Given:

Null Hypothesis is Not Rejected. i.e.Null Hypothesis is Accepted

The mean price of a​ single-family home was ​$ 243,725 i.e. = $243,725

Hypothesis:

Ho: = $243,725

Ha: < $243,725 (The mean price of a​ single-family home has decreased decreased.)

ANSWER: B.

There is not sufficient evidence to conclude that the mean price of a​ single-family home has decreased decreased.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Three years​ ago, the mean price of an existing​ single-family home was ​$243,759 A real estate...
Three years​ ago, the mean price of an existing​ single-family home was ​$243,759 A real estate broker believes that existing home prices in her neighborhood are lowerlower. ​(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.
Three years​ ago, the mean price of an existing​ single-family home was ​$243,774 A real estate...
Three years​ ago, the mean price of an existing​ single-family home was ​$243,774 A real estate broker believes that existing home prices in her neighborhood are higherhigher. ​(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.
Three years​ ago, the mean price of an existing​ single-family home was ​$243,708. A real estate...
Three years​ ago, the mean price of an existing​ single-family home was ​$243,708. A real estate broker believes that existing home prices in her neighborhood are higherhigher. ​(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.
Three years​ ago, the mean price of an existing​ single-family home was ​$243,779. A real estate...
Three years​ ago, the mean price of an existing​ single-family home was ​$243,779. 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.
Three years​ ago, the mean price of an existing​ single-family home was ​$243 comma 766. A...
Three years​ ago, the mean price of an existing​ single-family home was ​$243 comma 766. 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.
Suppose that in a certain hypothesis test the null hypothesis is rejected at the .10 level;...
Suppose that in a certain hypothesis test the null hypothesis is rejected at the .10 level; it is also rejected at the .05 level; however it cannot be rejected at the .01 level. The most accurate statement that can be made about the p-value for this test is that: p-value = 0.01. p-value = 0.10. 0.01 < p-value < 0.05. 0.05 < p-value < 0.10. Complete the sentence: If we do not reject the null hypothesis, we conclude that _____....
For this problem, please do all 5-Steps: 1. State Null, Alternate Hypothesis, Type of test, &...
For this problem, please do all 5-Steps: 1. State Null, Alternate Hypothesis, Type of test, & Level of significance. 2. Check the conditions. 3. Compute the sample test statistic, draw a picture and find the P-value. 4. State the conclusion about the Null Hypothesis. 5. Interpret the conclusion. A car insurance company has determined that the mean annual car insurance cost for a family in the town of Watlington is $1716. A researcher wants to perform a hypothesis test to...
1. In testing a null hypothesis H0 versus an alternative Ha, H0 is ALWAYS rejected if...
1. In testing a null hypothesis H0 versus an alternative Ha, H0 is ALWAYS rejected if A. at least one sample observation falls in the non-rejection region. B. the test statistic value is less than the critical value. C. p-value ≥ α where α is the level of significance. 1 D. p-value < α where α is the level of significance. 2. In testing a null hypothesis H0 : µ = 0 vs H0 : µ > 0, suppose Z...
State the final conclusion. original​ claim: the mean is no more than 12 initial​ conclusion: reject...
State the final conclusion. original​ claim: the mean is no more than 12 initial​ conclusion: reject the null hypothesis Choose the correct answer A. there is sufficient evidence to support the claim that the mean is no more than 12 B. there is not sufficient evidence to warrant rejection of the claim that the mean is no more than 12 C. there is sufficient evidence to warrant rejection of the claim that the mean is no more than 12 D....
State your conclusion to the hypothesis test. The mayor of a certain city is tasked with...
State your conclusion to the hypothesis test. The mayor of a certain city is tasked with cutting over 5 million dollars out of next year’s budget and is considering cuts to spending on public transportation. The mayor decides to conduct a hypothesis test and will only cut spending on public transportation if fewer than 15% of residents use the service. In a random sample of 300 residents, 36 reported that they did use public transportation. Perform the appropriate hypothesis test...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT