Question
#3) A political candidate is planning his media budget for an upcoming election. He has $90,500 to spend. His political consultants have provided him with
#3) A political candidate is planning his media budget for an upcoming election. He has $90,500 to spend. His political consultants have provided him with the following estimates of additional votes as a result of the advertising effort:
-for every small sign placed by the roadside, he will garner 10 additional votes.
-for every large sign placed by the roadside, he will garner 30 additional votes.
-for every thousand bumper stickers placed on cars, he will garner 10 additional votes.
-for every hundred personal mailings to voters, he will garner 40 additional votes.
-for every radio ad heard in the last month, he will garner 485 additional votes.
The costs for each of the advertising devices, along with the practical minimum and maximum that should be planned for each, are shown on the following table. How should the candidate plan to spend his campaign money?
Advertising Medium | Cost | Minimum | Maximum |
Bumper stickers (thousands) | $30 | 50 | 100 |
Personal mailings (hundreds) | $85 | 400 | 500 |
Radio Ads (per day) | $1,000 | 3 | 15 |
Small road signs
| $25 | 80 | 400 |
Large road signs
| $60 | 75 | 325 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started