Remember that a a translation is a type of transformation in which you shift the graph of a function horizontally or vertically. Adding to the output of a function moves the graph up; whereas, subtracting from it moves the graph down. Since you are subtracting 2 to the output of the graph [tex]y=2^{x}[/tex], you are moving the graph of [tex]y=2^{x}[/tex] tow units up.
Therefore, the correct answer is: 4.Translate down 2 units.