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State the conclusion based on the results of the test.
According to the Federal Housing Finance Board, the mean price of a single-family home two years ago was $299,000. A real estate broker believes that because of the recent credit crunch, the mean price has increased since then. The null hypothesis is rejected.
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Part 1
Choose the correct answer below.
A.
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 $299,000.
B.
There is not sufficient evidence to conclude that the mean price of a single-family home has decreased from its level two years ago of $299,000.
C.
There is sufficient evidence to conclude that the mean price of a single-family home has increased from its level two years ago of $299,000.
D.
There is sufficient evidence to conclude that the mean price of a single-family home has decreased from its level two years ago of $299,000.
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