Solve the linear programming model formulation in Problem 21 for London Fashions graphically. a. Determine the sensitivity
Question:
Solve the linear programming model formulation in Problem 21 for London Fashions graphically.
a. Determine the sensitivity ranges for the cost of TV.
b. Does the company give any more print media ads than is required and if so, how many more?
Data From Problem 21
London Fashions specializes in the design and delivery of apparels. To improve its sales, the company puts ads on TV and print media. TV channels play the video clip of an ad for 60 seconds and charge €25 per ad; print media (books, magazines, newspapers) print the ad in a 10x10 space and charge €40 per space. Each TV ad is expected to reach 5,000 potential customers and print media ads to reach about 6,000 potential customers. The company wants to reach at least 300,000 customers in total, at least 100,000 via TV ads and 150,000 through print media. The firm wants to know the number of ads it needs to put in each type of media to reach the expected number of customers with minimum cost.
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