Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 1 (20 MARKS) Mariam is going to publish her first non-ction book with a renowned publisher. She aims to sell as many books as

image text in transcribed
QUESTION 1 (20 MARKS) Mariam is going to publish her first non-ction book with a renowned publisher. She aims to sell as many books as possible. Her publisher has arranged some promotion campaigns such as book-reading events at libraries and book-signing event at various bookstores. A book-reading event costs $300 whereas a booksigning event costs $500. Realistically, Mariam can hold no more than 20 bookreading events but she can hold at least 20 book-signing events. However, her publisher has stipulated that she must have at least 10 book-reading events. At the same time, the publisher also plans to place advertisement in various platforms to introduce the book to the masses. The publisher plans to advertise on newspaper and on social media. Each newspaper ads costs $500 and each social media ads costs $200. It is a normal practice that books will be advertised in at least 50 times in newspaper and no more than 300 times in social media. Each book reading events at a library will generate a sale of 50 books and each book signing events will generate a sale of 40 books. On the other hand, based on the past marketing records, only 30 books are sold for every advertisement in newspaper and 50 books are sold for every advertisement in social media. The publisher has allocated $50000 to promote Mariam book. 8. Use this LP programming and solve it using QM for Windows if Mariam wants to maximize the number books sold. b. What should the publisher and Mariam do to increase the sales of the books and to reduce the cost of promotion? (Hint: Use ranging result obtained from QM for Windows

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

New Trends In Shape Optimization

Authors: Aldo Pratelli, Günter Leugering

1st Edition

3319175637, 9783319175638

More Books

Students also viewed these Mathematics questions