1. State the Type I and Type II errors in complete sentences given the following statements.

The average retiring age of Americans is 34.

A. Type I error:

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Type I error is concluding that the private universities mean tuition cost is more than 20,000 per year, when it is at most 20,000 per year.

B. Type II error:

Type II error is concluding that the private universities mean tuition cost is at most $20,000 per year, when it was more 20,000 per year.

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