A B C D E F Annual Premium Formula Used NJ 1921 Sample Size #N/A 3167 2353 Point Estimate of Mean (to the whole) #N/A LA 2778 2510 Standard Deviation (4 decimals) #N/A 2913 8 2622 Confidence Coefficient 0.95 g 2564 10 2618 Level of Significance #N/A 11 2615 12 2336 Margin of Error (2 decimals) #N/A 13 2889 14 2906 C.I. Lower Limit (2 decimals) #N/A 15 2573 C.I. Upper Limit (2 decimals) #N/A 16 2626 17 2143 National Average for the U.S. 1545 18 2503 19 2169 the annual automobile insurance #N/A 20 2363 premium in Michigan include the 21 2488 national average for the United 22 States? 23The average annual premium for automobile insurance in the United States is $1545. A representative sample of annual premiums for the state of Michigan is contained in the Excel Online file below. Assume the population is approximately normal. Construct a spreadsheet to answer the following questions Open spreadsheet a. Provide a point estimate of the mean annual automobile insurance premium in Michigan. (to the nearest dollar) b. Develop a 95% confidence interval for the mean annual automobile insurance premium in Michigan. ($ (to the nearest cent) c. Does the 95% confidence interval for the annual automobile insurance premium in Michigan include the national average for the United States? What is your interpretation of the relationship between auto insurance premiums in Michigan and the national average? We would be |% confident that auto insurance premiums in Michigan are the national average