You work for a men’s designer apparel company based in the US that is planning t

Question

You work for a men’s designer apparel company based in the US 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 239 Dutch people that satisfies this criterion. From this survey, you have the following information: average income = $43,348.44, standard deviation = $21,989.02, Standard Error = $1422.35

Based on the statistical inference above, what is your business decision? In the past, your company did not expand to another country if the average income of the target market was different from the US.

a) Expand to Netherlands

b) Do not expand to Netherlands

c) I am undecided

Explanation / Answer

Here we are not given US average income of the target market. Without the target (average) value we cannot do the calcualtions to reach to the decision. From the available information the correct choice would be,

c) I am undecided.

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