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AGE | MINDTAP Search this course ctivity 3b - Confidence Interval for Mean (Structured) Video The average annual premium for automobile insurance in the United States is $1446. A representative sample of annual premiums for the state of Michigan is contained in the Excel Online file below. Assume the population is approximately normal. Construct a spreadsheet to answer the following questions. X Open spreadsheet a. Provide a point estimate of the mean annual automobile insurance premium in Michigan. (to the nearest dollar) b. Develop a 95% confidence interval for the mean annual automobile insurance premium in Michigan. ($ ) (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. Check My Work Reset Problem Next