The local government of country X is committed to curb the consumption of tobacco among youngsters owing to its severe health effects. Previous attempts to regulate tobacco consumption have failed to produce any fruitful results. The only possible way out is to tax the consumption of tobacco. Optimal taxation would require a proper knowledge of how price sensitive the consumers are to tobacco consumption. Data is collected by selecting a small sample of individuals at random. It is known that the price elasticity of tobacco consumption follows a normal distribution. Similar studies carried out earlier report that the price elasticity of tobacco consumption has a mean 0.33. The current survey aims to verify whether the value of the mean population price elasticity is actually 0.33 or not. The given table summarises the findings from the survey: Number of individuals The standard deviation The sample mean_of surveyed (n) 0f the sample (3y) price elasticity (Y) 20 0.34 0.47 Given that the sample size is relatively small, is it reliable to assume a normal approximation to the tstatistic for hypothesis testing? No, since the tstatistic follows an F distribution in small samples. Yes, a normal approximation to the tstatistic can be used for hypothesis testing, but only with n - 2 degrees of freedom. V Yes, a normal approximation to the tstatistic is reliable if the population distribution is itself normal and the sample size is greater than 15. Yes, since a normal approximation to the tstatistic is independent of the sample size. Let y denote the average price elasticity of tobacco consumption among youngsters in the entire country. Based on the above information, the tstatistic for the test H0: y = 0.33 vs. H1: yy# 0.33 is: (Round your answer to two decimal places). Given the value of the tstatistic, at the 5% level of signicance, we V the null hypothesis