Suppose the null hypothesis is not rejected. State the conclusion based on the results of the...
Suppose the null hypothesis is 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 comma 712. A real estate broker believes that the mean price has increased since then. Which of the following is the correct conclusion? A. There is sufficient evidence to conclude that the mean price of a single-family home has increased. B. There is sufficient evidence to conclude that the mean price of a single-family home has not changed. C. There is not sufficient evidence to conclude that the mean price of a single-family home has not changed. D. There is not sufficient evidence to conclude that the mean price of a single-family home has increased.
Homework Answers
Solution :
Given that,
The null hypothesis is not rejected .
The correct conclusion is,
There is not sufficient evidence to conclude that the mean price of a single-family home has not changed .
Option C)
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