Question

Question Help State the conclusion based on the results of the test. According to the Federal Housing Finance​ Board, the mean price of a​ single-family home two years ago was ​$ 299 comma 300 299,300. A real estate broker believes that because of the recent credit​ crunch, the mean price has decreased decreased since then. The null hypothesis is not is not rejected. Choose the correct answer below. A. There is is sufficient evidence to conclude that the mean price of a​ single-family home has increased increased from its level two years ago of ​$ 299 comma 300 299,300. B. There is is sufficient evidence to conclude that the mean price of a​ single-family home has decreased decreased from its level two years ago of ​$ 299 comma 300 299,300. C. There is not is not sufficient evidence to conclude that the mean price of a​ single-family home has decreased decreased from its level two years ago of ​$ 299 comma 300 299,300. D. There is not is not sufficient evidence to conclude that the mean price of a​ single-family home has increased increased from its level two years ago of ​$ 299 comma 300 299,300.

Answer 1

Answer: C. There is not sufficient evidence to conclude that the mean price of a​ single-family home has decreased decreased from its level two years ago of ​$299,300

Step-by-step explanation:

Simply speaking, the Alternative Hypothesis of any research is the one that agrees with the Researcher. In other words, it is the one that the Researcher AIMS to PROVE. In this scenario, that would be that the real estate broker believes that because of the recent credit​ crunch, the mean price has decreased since 2 years ago.

The Null Hypothesis on the other hand is what the research AIMS to DISPROVE. It is usually rejected if there is sufficient evidence to support the Alternative Hypothesis.

In this scenario, the Null Hypothesis was NOT REJECTED which means that sufficient evidence DID NOT EXIST to accept the the Real Estate Broker's claims hence Option C is correct.