Suppose the null hypothesis is not rejected. State the conclusion based on the r

Question

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 $243.797. A real estate broker believes that the mean price has increased since then. Which of the following is the correct conclusion? A There is not sufficient evidence to conclude that the mean price of a single-family home has not changed B. There is not sufficient evidence to conclude that the mean price of a single-family home has increased. C. There is sufficient evidence to conclude that the mean price of a single-family home has not changed. D. There is sufficient evidence to conclude that the mean price of a single family home has increased.

Explanation / Answer

Ans: Option B.   

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