10. The data below represents Medicare expenditures from 1970 to 1996, in billions of dollars. (4 points) Year Medicare Expenditures (billions of dollars 1970 7.6 1980 37.5 1985 72.1 1990 112.1 1991 124.4 1992 141.4 1993 153 1994 169.8 1995 187.9 1996 203.1 For this data set, use your TI-83/TI-84 to: A. Create a scatterplot of the data. B. Assume that the relationship of this data is exponential. Transform the data, find the regression equation, r, and r2. Based only on the value of r would you consider this a good model for extrapolationcreases in Medicare spending? C. Create a residual plot of the transformed data. Does the residual plot change your mind about the usefulness of this model to extrapolate increases in Medicare spending? (Note: Remember that many trends don't have a perfect mathematical model to predict them because there are too many complicating factors to yield a consistent curve. Sometimes in cases like these, a rough model will work as a rough estimator when used with appropriate caution.)