Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. [20 points] Elizabeth Bailey is the owner and general manager of Princess Brides, which provides a wedding planning service in southwestern Georgia. She uses

3. [20 points] Elizabeth Bailey is the owner and general manager of Princess Brides, which provides a wedding planning service in southwestern Georgia. She uses social media advertising to market her business. She plans to run advertisements on two social media platforms, Instagram and Facebook, for the next year to maximize the customer reach. Each Instagram ad costs $62 and reaches 150 people, while the Facebook ad costs $41 and reaches 100 customers. Bailey has budgeted $2,000 for advertising. Based on comments from her customers, Bailey wants to have at least 20 Instagram ads and at least 10 Facebook ads. (Note: ads cannot be fractions).

a. Formulate this as a linear program. Define decision variables, objective function, and constraints.

b. Find the optoptimal solution for the linear program by using an appropriate linear program solver. Using the optimal solution for the linear program, find an integer solution (because ads cannotbe fractions) by rounding the linear optimalsolution or makingan educated guess. What is the integersolution? How many Instagram and Facebook ads should be run?What is the total customer reach?

  1. Solve this as an integer programming problem. (See class examples to make a linear model to an integer model in LPSolve and Excel Solver). What is the optimal integer solution? How many Instagram and Facebook ads should be run? What is the total customer reach?
  2. Discuss the two solutions in (b) and (c). What is the reason for the difference?

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

The Fundamentals Of Fashion Management

Authors: Susan Dillon

2nd Edition

1474271219, 978-1474271219

More Books

Students also viewed these General Management questions

Question

Better Corp completed the following transactions during 2016

Answered: 1 week ago