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Questions 1 through 12 are based on the following You work for amen’s designer apparel company based in the US that is planning toexpand to the Netherlands. Your target market is young professionalmen in the age range 24-35. You conducted a survey of 239 Dutchpeople that satisfies this criterion. From this survey, you havethe following information: average income = $43,348.44, standarddeviation = $21,989.02, Standard Error = $1422.35

Question 1

The above income information obtained from the survey pertainsto

a.The population of Dutch professional men in the age range24-35

b. The sample of 239 Dutch professional men in the age range24-35

c. Sampling distributions of the average income (n=239) of Dutchprofessional men in the age range 24-35

Question 2

The mean of the sampling distribution (n=239) of the averageincome of Dutch professional men in the age range 24-35 is

a. $43,348.44

b.$45,905.00

c.We need a confidence interval estimate

Question 3 The standard deviation of the sampling distributionof the average income (n=239) of Dutch professional men in the agerange 24-35 is

a. $21,989.02

b.$1422.35

c.We need to calculate the z-value

Question 4

You would like to know if the average income of your targetmarket in the Netherlands is different from the US market. In theUS, the average income is $45,000. In the past, your company didnot expand to another country if the average income of the targetmarket was different from the US. What are the appropriate null andalternative hypotheses to pursue your research question? Group ofanswer choices

a.Null Hypothesis: The average income of Dutch professional menin the survey is $45,000; Alternative Hypothesis: The averageincome of Dutch professional men in the survey is different from$45,000

b.Null Hypothesis: The average income of Dutch professional menaged 24 - 35 is $45,000; Alternative Hypothesis: The average incomeof Dutch professional men aged 24 - 35 is different from$45,000

c.None of the above

Question 5

From the above sample, the 90% confidence interval estimate ofthe average income of Dutch target market is [$40,999.74,$45,697.15]. Based on this information,

a.Reject the Null Hypothesis at 10% level of significance

b.Fail to Reject the Null Hypothesis at 10% level ofsignificance

c.We need more information

Question 6

What is the Z-value (Ztest) of the hypothesis test? ______(round up to 2 decimal points).

Question 7

At 10% level of significance, the rejection region to test yourhypothesis is:  

a.Z < -1.16 or Z >1.16

b.Z < - 1.96 or Z > 1.96

c.Z < -1.64 or Z > 1.64

Question 8

Based on the test-statistics and your chosen level ofsignificance, what is your statistical inference?  

a.Reject the Null Hypothesis

b.Fail to Reject the Null Hypothesis

Question 9

The p-value of the above hypothesis test is 0.247. What is yourstatistical decision (previously, you chose a significance level of10%)?

a. Reject the Null Hypothesis

b. Fail to Reject the Null Hypothesis

Question 10

Based on the statistical inference above, what is your businessdecision? In the past, your company did not expand to anothercountry if the average income of the target market was differentfrom the US. Group of answer choices

a.Expand to Netherlands

b.Do not expand to Netherlands

c.I am undecided

Question 11

If the actual average income of the Dutch target market is$43,000, then your statistical decision and subsequent businessdecision is an example of

Group of answer choices

a.Type I Error

b.Type II Error

c. No Error has been committed

Question 12

How would your statistical and subsequent business decisionchange if you use a 5% level of significance (instead of the 10%level of significance used above) Group of answer

a. choices Remains the same

b. Gets reversed