The table below provides the advertisement cost, selling time and the profit data relating to the CBC company. For the current month, CBC is planning to produce 800 units only. However, Cannes distribution point needs at least 200 units, and Nice needs at least 100 units. CBC is setting advertisement budgets to 100,000 Euros and the maximum selling hours are 1300 hours. Similar to any other company, CBC is trying to maximize the profit with their products. 1. Investigate the recent development in mathematical models that can be used for the optimization of the above case study. Subsequently, formulate the most appropriate mathematical model to address the scenario. (CLO 1 - 15 Marks) 2. Solve the model using a graphical approach and interpret the solution. (CLO 2 - 10 Marks) 3. Discuss the sensitivity analysis of the proposed model using the graphical approach. (CLO 2 - 5 Marks) 4. Distinguish alternative ways in which the organization can increase their profitability. (CLO 1 - 5 Marks) 5. Examine the identified problem in a standard form and highlight whether the model produced slack/surplus variables. (CLO 2 - 5 Marks) 3.2 Terms of Reference. The table below provides the advertisement cost, selling time and the profit data relating to the CBC company. For the current month, CBC is planning to produce 800 units only. However, Cannes distribution point needs at least 200 units, and Nice needs at least 100 units. CBC is setting advertisement budgets to 100,000 Euros and the maximum selling hours are 1300 hours. Similar to any other company, CBC is trying to maximize the profit with their products. 1. Investigate the recent development in mathematical models that can be used for the optimization of the above case study. Subsequently, formulate the most appropriate mathematical model to address the scenario. (CLO 1 - 15 Marks) 2. Solve the model using a graphical approach and interpret the solution. (CLO 2 - 10 Marks) 3. Discuss the sensitivity analysis of the proposed model using the graphical approach. (CLO 2 - 5 Marks) 4. Distinguish alternative ways in which the organization can increase their profitability. (CLO 1 - 5 Marks) 5. Examine the identified problem in a standard form and highlight whether the model produced slack/surplus variables. (CLO 2 - 5 Marks) 3.2 Terms of Reference