Q. No.1: Wellstone Inc. produces and markets replacement covers for cell phones in a variety of colors. The company would like to allocate its production plans to five different colors: bright white, metallic black, magnetic lime, tangerine orange, and fusion red. The company set up a kiosk in the Mall of America for several hours and asked randomly selected people which cover color was their favorite. The results follow: Bright white 140 Item Washer Metallic black Cotter pin Stove bolt Hex nut 104 Month July August Magnetic lime Price $0.07 0.04 0.15 0.08 325 a. Draw a bar chart & pie chart for the table. b. If Wellstone Inc. plans to produce one million cell phone covers, how many of each color should it produce? Q. No.2:Discuses at least five real life applications and importance of Index Numbers The prices and the numbers of various items produced by a small machine and stamping plant are reported below. Use 2000 as the base. Calculate base year weighted and current year weighted index numbers 2009 Tangerine orange 455 Quantity 17,000 125, 0000 40,000 62,000 Fusion red Price $0.10 0.03 0.15 0.10 128 2000 Quantity 20,000 130,00 42,000 65,000 Q. No.3:the owner of Haverty's Furniture Company was studying the relationship between sales and the amount spent on advertising. The sales information for the last four months is repeated below. Advertising Expense ($ million) Sales Revenue ($ million) 2 7 1 3 3 8 September October 4 10 a) Determine the regression equation. (b) Interpret the values of a and b. (c) Estimate sales when $3 million is spent on advertising.