Year2000Expenditure(billions $)20042005200720082009201220132015135918782016232024982689329835334032a. Make a graph of the data large enough to include 2018 (use graph paper, label completely, and choose thecorrect axis for the independent (x) and dependent (y) variables).b. Find the growth rate (b) between 2004 and 2005, rounded to 3 decimal places.Ythe table.c. Find the growth rate (b) between 2012 and 2015, rounded to 3 decimal places.Hint: the years are not consecutive so you will need to substitute the numbers you know into the equationab and solve for b.hawand. Add a trend line and estimate the expenditure you would expect in 2018.billionUse your prend line to estimate the year the US health expenditure reached $3000 billion.

Given Information: Consider the given dataset in which the number of years is an independent variable and the expenditure is a dependent variable. Year Expenditure 2000 1359 2004 1878 2005 2016 2007 2320 2008 2498 2009 2689 2012 3298 2013 3533 2015 4032 a. The step-by-step procedure to make a graph using excel is shown below: Enter the data into an excel sheet. Go to the tab Insert>Recommended Chart > All charts > X-Y scatter. Click ok. The graph is shown below:b. The growth rate between 2004 and 2005 can be obtained as: Growth rate=Present expenditure2005-Past expenditure (2004)Past expenditure2004 =2016-18781878 =0.07348 =7.348% Hence, the growth rate between 2004 and 2005 is 7.348%. c. The growth rate between 2012 and 2015 can be obtained as: When, x=2012 , y=3298x=2015 , y =4032 Substitute these points into an equation y=abx and solve for the system for a and b. 3298=ab2012 .....14032=ab2015 ......2 Using equation (1), we get: 3298=ab2012 a=3298b2012 Substitute the values in equation (2). we get: 4032=ab20154032=3298b2012×b20154032=3298×b3b3=40323298b3=1.2226b=1.0693 Hence, the growth rate between 2012 and 2015 is 1.0693.d. Add a trend line and estimate the expenditure you would expect in 2018 From the above chart, it can be clearly seen that the expenditure we would expect in 2018 will be$4300- $4500 billion.