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You work for a men's designer apparel company based in the U.S. that is planning to expand to the Netherlands. Your target market is young
You work for a men's designer apparel company based in the U.S. that is planning to expand to the Netherlands. Your target market is young professional men in the age range 24-35. You conducted a survey of Dutch people that satisfies this criterion. The 95% confidence interval of the income of these Dutch people (converted to USD) is provided below. Descriptives Statistic Std. Error IncomeUSD Mean 50284.1974 1649.92748 95% Confidence Interval for Mean Lower Bound 47033.8707 Upper Bound 53534.5241 5% Trimmed Mean 48844.8494 Median 46741.7688 Variance 650620305.690 Std. Deviation 25507.25986 Minimum 6081.07 Maximum 146225.32 Range 140144.25 Interquartile Range 36867.84 Skewness .824 .157 Kurtosis .636 .314 One-Sample Test Test Value = 50000 t df Significance Mean Difference 95% Confidence Interval of the Difference One-Sided p Two-Sided p Lower Upper IncomeUSD .172 238 .432 .863 284.19741 -2966.1293 3534.5241. If the actual average income of the Dutch target market is $55,000, then your statistical decision and subsequent business decision is an example of _______. Group of answer choices Type I Error No Error has been committed Type II Error
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