Three years​ ago, the mean price of a​ single-family home was ​$243,741. A real estate broker believes that the mean price has increased since then. The null and alternative hypotheses are H0​: μ=​$243,741​, Ha​: μ>​$243,741.       Explain what it would mean to make a type I error.

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Three years​ ago, the mean price of a​ single-family home was
​$243,741.
A real estate broker believes that the mean price has
increased since then. The null and alternative hypotheses are
H0​: μ=​$243,741​,
Ha​: μ>​$243,741.
 
 
 
Explain what it would mean to make a type I error.
 
 
A. A type I error would occur if in fact
μ>​$243,741​, but the results of the sampling lead to the conclusion that
μ= ​$243,741.
 
B. A type I error would occur if in fact μ=​$243,741​, but the results of the sampling lead to the conclusion that μ>$243,741.
 
C. A type I error would occur if in fact
μ=​$243,741​, but the results of the sampling fail to lead to the conclusion that μ>$243,741.
 
 
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