Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The pictures are part of the same question (6) Formulate an optimization problem that can be solved to maximize sales subject to the media budget

image text in transcribed

image text in transcribed

The pictures are part of the same question

(6) Formulate an optimization problem that can be solved to maximize sales subject to the media budget of spending no more than $4,000 on total advertising. If the constant is "1" it must be entered in the box. For subtractive or negative numbers use a minus sian even if there is a sign before the blank. (Example: -300). If you answer is zero enter "0". Max 7 RM + 20 R 37 M RM $1,012,should be (c) Determine the optimal amount to spend on radio and direct-mail advertising. How much in sales will be generated? Enter amounts in thousands i. written as $1,012. If your answer is zero enter "0". Amount spent on radio advertising = $ 5000 W Amount spent on direct-mail advertising - $ 5000 3 Total Sales - $ 50000 3 Greenlawns provides a lawn fertilizing and weed control service. The company is adding a special aeration treatment as a low-cost extra service option, which it hopes will help attract new customers. Management is planning to promote this new service in two media: radio and direct mail advertising. A media budget of $4,000 is available for this promotional campaign. Based on past experience in promoting its other services, GreenLawns has obtained the following estimate of the relationship between sales and the amount spent on promotion in these two media: S = -2R2 - 10M? - 7RM + 2OR +37M, Where S = total sales in thousands of dollars R = thousands of dollars spent on radio advertising M - thousands of dollars spent on direct mail advertising

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

Students also viewed these Accounting questions

Question

- Explain why non - relational databases are useful.

Answered: 1 week ago

Question

recognise typical interviewer errors and explain how to avoid them

Answered: 1 week ago

Question

identify and evaluate a range of recruitment and selection methods

Answered: 1 week ago

Question

understand the role of competencies and a competency framework

Answered: 1 week ago