Three years ago, the mean price of an existing single-family home was $243 comma 772. 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)

(b)  The broker rejects the hypothesis that the mean price is $243,772, when it is the true mean cost.

(c) The broker fails to reject the hypothesis that the mean price is $243,772, when the true mean price is less than $243,772.

Step-by-step explanation:

(a) The null and alternative hypotheses are:

(b) The type I error says that reject the when it is true.

Thus, type I error is: The broker rejects the null hypothesis that the mean price of home is $243,772, when it is the true mean cost.

(c) The type II error says that accept the when it is false.

Thus, type II error is: The broker fails to reject the null hypothesis that the mean price of single-single home is $243,772, when the true mean price is less than $243,772.

step-by-step explanation:

12: 00 p.m. to 7: 00 p.m. is a total of 7 hours.

4: 00 p.m. to 7: 00 p.m. is a total of 3 hours.

this means that from 4: 00 p.m to 7: 00 p.m. this represents 3/7 of what was lost from 12: 00 p.m. to 7: 00 p.m.

after knowing this, after doing 11,600 - 6,800 = 4,800

4,800 represents 3/7 of what was lost for 7 hours.

we then divide 4,800 by 3 which gets 1,600.

because we know that 1,600 represents 1/7 of how much water was lost, we just have to multiply by 7, which gets 11,200.   after adding 11,200 to how much water was left at 7: 00 p.m. which was 6,800. 11,200 + 6,800 = 18,000

this means that the pool originally had 18,000 gallons in the pool.

you can also check your work by doing 18,000 - 4(1600), which becomes           1800 - 6400 which gets you 11,600.