Suppose the null hypothesis is not rejectednot rejected. State the conclusion ba

Question

Suppose the null hypothesis is not rejectednot rejected. State the conclusion based on the results of the test. Three years ago, the mean price of a single-family home was 243,795. A real estate broker believes that the mean price has increased since then. Which of the following is the correct conclusion? A. There iis sufficient evidence to conclude that the mean price of a single-family home has not changed. B. There is not not sufficient evidence to conclude that the mean price of a single-family home has increasedincreased. C. There isis sufficient evidence to conclude that the mean price of a single-family home has increasedincreased. D. There is not sufficient evidence to conclude that the mean price of a single-family home has not changed.

Explanation / Answer

Answer is option D. If a null hypothesis is not rejected, then it is either nullified(mean price remain same) or disproved ( i.e., decreased as per this problem). So, there is not enough data to conclude that the mean price of a single family home has remained the same, because the mean price can either be same or has been decreased.

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