Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An ad campaign for a new snack chip will be conducted in a limited geographical area and can use TV time, radio time, and newspaper

An ad campaign for a new snack chip will be conducted in a limited geographical area and can use TV time, radio time, and newspaper
ads. Information about each medium is shown below.
Consider the following limitations: (1) the advertising budget is $20,000, and (2) they must achieve an exposure quality of at least
1000,(3) the number of TV ads cannot exceed the number of radio ads by more than 4.
Develop and solve an LP model to determine the number of ads in each medium in order to maximize the total number reached.
Hint: to avoid errors and confusions, first write down the algebraic formulation on paper before solving the model in Excel.
(a) What is the optimal solution?
Optimal number of TV ads is
Optimal number of Radio ads is
Optimal number of Newspaper ads is
(b) The maximum total number reached is
(c)How much do they have to pay for the optimal number of TV ads?
image text in transcribed

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

General Managers In Action Policies And Strategies

Authors: Francis Joseph Aguilar

2nd Edition

0195073673, 978-0195073676

More Books

Students also viewed these General Management questions

Question

LO2 Describe the human resource planning process.

Answered: 1 week ago