Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

20) Cutlery Corner sells specialty knives to knife enthusiasts. They have a generous advertising budget to spread among four media channels: their recurring TV show,

20) Cutlery Corner sells specialty knives to knife enthusiasts. They have a generous advertising budget to spread among four media channels: their recurring TV show, newspaper ads, radio spots, and social media. Tom, the owner and star of the TV show is adamant that the show air at least twice a day, seven days a week but decides you can allocate the rest of the budget as you see fit. The TV shows (T) draws 20,000 interested viewers per airing and costs $2,000 per episode. Daily newspaper ads (N) cost $1500 and can be run up to seven days a week. Given the level of readership for newspapers, you settle on a figure of 10,000 people reached per ad. Radio spots come in 15 second (RF) and 30 second (RT) durations 15 second spots in drive time cost $500 per airing and 30 second spots any other time of the day are a relative bargain at $250. Drive time spots are available twice a day (morning and evening commute) five days a week and reach 12,000, and the "any other time" spots could air up to six times a day seven days a week and reach 5,000 listeners per airing. The social media campaign (S) is run out of a specialist's office and a burst of blogging, tweeting, vining and whatever else happens to be in fashion at the time costs $700 and reaches 10,000.

According to above Problem, what is the objective function?

  1. Max 20,000T + 10,000N + 12,000RF + 5,000RT + 10,000S
  2. Min 20,000T + 10,000N + 12,000RF + 5,000RT + 10,000S
  3. Min 2,000T + 1,500N + 500RF + 250RT + 700S
  4. Max 2,000T + 1,500N + 500RF + 250RT + 700S

21) Based on problem #20, Which one is the correct constraints in this scenario:

(A) 20,000T + 10,000N + 12,000RF + 5,000RT + 10,000S 1,000,000

(B) 20,000T + 10,000N + 12,000RF + 5,000RT + 10,000S <1,000,000

(C) 2,000T + 1,500N + 500RF + 250RT + 700S > 45,000

(D) 2,000T + 1,500N + 500RF + 250RT + 700S 45,000

22) Based on problem #20, what is the optimal solution based on objective function (rounded to nearest decimal place) to reach the most potential customers:

(A) 587000

(B) 625000

(C) 700800

(D) 694800

23) Based on problem #20, what is the optimal solution to advertise on Newspaper and Social Media:

(A) 0, 0

(B) 10, 0

(C) 42, 0

(D) 0, 939

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

An Audit Is An Audit Is An Audit

Authors: Marina Peters

1st Edition

B08B37VNZ6, 979-8652328412

More Books

Students also viewed these Accounting questions

Question

Why We Form Relationships Managing Relationship Dynamics?

Answered: 1 week ago