Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ABC Inc. wants to conduct some market research. They have the following requirements: Conduct 1000 interviews At least 400 households with children At least 400

ABC Inc. wants to conduct some market research. They have the following requirements:

Conduct 1000 interviews

At least 400 households with children

At least 400 households without children

Evening interviews should be at least as many as day interviews

At least 40% of the interviews for households with children would be conducted in the evening.

At least 60% of the interviews for households without children would be conducted during evening.

Different types of interviews vary in cost.

Household with children during the day: $20

Household with children during the evening: $25

Household without children during the day: $18

Household without children during the evening: $20

A. What is the interview plan (how many interviews to conduct for each type) that would satisfy the research requirements at the minimum cost? Use solver to solve this problem. A check value for the total cost is $20320.

B. If the price for daytime interview with household with children is increased to $25, would this change your solution?

C. If the company requires 200 more interviews, how would this change the total cost?

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

Graph Database Modeling With Neo4j

Authors: Ajit Singh

2nd Edition

B0BDWT2XLR, 979-8351798783

More Books

Students also viewed these Databases questions

Question

121. If X is uniformly distributed on [1, 3], find the pdf of Y X2.

Answered: 1 week ago

Question

Identify four applications of HRM to healthcare organizations.

Answered: 1 week ago