According to the National Association of Home Builders, the mean prices of an existing single-family home in 2013 was $245,700. A real estate broker believes that existing home prices in her neighborhood are higher. What is Type I error in context (first type of error)?
1) Rejecting the null hypothesis when it is actually true
2) Accepting the null hypothesis when it is actually false
3) Rejecting the alternative hypothesis when it is actually true
4) Accepting the alternative hypothesis when it is actually false