Suppose the null hypothesis is rejected. State the conclusion based on the resul

Question

Suppose the null hypothesis is rejected. State the conclusion based on the results of the test. Three years ago, the mean price of a single-family home was $243,706. A real estate broker believes that the mean price has decreased since then. Which of the following is the correct conclusion?

A. There is notis not sufficient evidence to conclude that the mean price of a single-family home has not changed.

B. There is sufficient evidence to conclude that the mean price of a single-family home has decreased.

C. There is sufficient evidence to conclude that the mean price of a single-family home has not changed.

D. There is not sufficient evidence to conclude that the mean price of a single-family home has decreased.

Explanation / Answer

as here null hypothesis: mean price =243706

and alternate hypothesis: mean price <243706

as null hypothesis is rejected

hence option B is correct

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