According to the Federal Housing Finance Board, the mean price of a single-famil

Question

According to the Federal Housing Finance Board, the mean price of a single-family home two years ago was 300, 299A real estate broker believes that because of the recent credit crunch, the mean price has increasedincreased since then. The null hypothesis is not is not rejected.

A.There is sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of 300,299

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

C.there is sufficient evidence to conclude that the mean price of a single-family home has decreased from its level two years ago of 299,300.

D. There is notis not sufficient evidence to conclude that the mean price of a single-family home has increasedincreased from its level two years ago of 300, 299

Explanation / Answer

As the null hypothesis is not rejected, then the mean has not increased. Hence,

OPTION D. There is not sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of 300, 299. [ANSWER]

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