Robin IncFeared That the Average Company Loss Is Running Beyond $34,000

Multiple Choice

Robin Inc.feared that the average company loss is running beyond $34,000.It initially conducted a hypothesis test on a sample extracted from its database.The hypothesis was formulated as H₀: average company loss $34,000 vs.H₁: average company loss > $34,000.The test resulted in favor of Robin Inc.'s loss not exceeding $34,000.Detailed study of company accounts later revealed that the average company loss had run up to $37,896.Which of the following errors were made during the hypothesis test?

A) Type III error
B) Type II error
C) Type I error
D) Type IV error