The table below displays the real crude oil price per barrel, nominal interest rate, real interest rate, and real GDP growth rate in the United States from 2011 to 2020. The inflation data were collected from InflationData.com ,and other data were collected from the World Development Indicators.

Year	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
Real Crude oil price ($)	108.80	105.90	110.02	101.61	49.64	42.52	50.42	64.67	54.99	35.00
Nominal interest rate (%)	3.25	3.25	3.25	3.25	3.26	3.51	4.10	4.90	5.28	3.54
Real interest rate (%)	1.14	1.31	1.47	1.37	2.29	2.44	2.18	2.44	3.44	2.35
Real GDP growth rate (%)	1.55	2.25	1.84	2.53	3.08	1.71	2.33	3.00	2.16	3.64

(b) Estimate the expected inflation rate for the United States from 2011 to 2020 and show your answer in the following table.

Year	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
Expected inflation rate (%)

(c) Divide the sample into two groups based on the average real crude oil price and compute the average expected inflation rate in these two groups.Show your answer in the following table and state the observed relationship between real crude oil price and expected inflation rate in one sentence.

Group	Low real crude oil price (real crude oil price average)	High real crude oil price (real crude oil price > average)
Average expected inflation rate (%)