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The First National Bank received 3,000 inquiries following the latest advertisement describing its 30-month IRA accounts in the Boston World , a local newspaper.The most

The First National Bank received 3,000 inquiries following the latest advertisement describing its 30-month IRA accounts in theBoston World, a local newspaper.The most recent ad in a similar advertising campaign inMassachusetts Business, a regional business magazine, generated 1,000 inquiries.Each newspaper ad costs $500, whereas each magazine ad costs $125.

a.Assuming that additional ads would generate similar response rates, is the bank running an optimal mix of newspaper and magazine ads?Why or why not?

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