Error Message on Android Studio

Hi

I am new to Android Studio. I have downloaded the latest andorid studio and this is what i get when i click new project.Screen Shot 2013-09-10 at 17.27.24.png
I went into the sdk in the package contents of android studio. Then went into this application Android Studio 130.737825/Android Studio.app/sdk/tools/android. I installed everything I could and it still comes up with the error message.

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