12. A company is planning to spend Rs 7 lakh on advertising next year to promote four...
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12. A company is planning to spend Rs 7 lakh on advertising next year to promote four of its products. It plans to spend to multiples of Rs 1 lakh only on the products and also to spend at least Rs 1 lakh on each of them. Given in the following table are the estimates of increase in the sales volume (in lakhs of Rs) as a result of the advertisement expenses on various products.
Use dynamic programming to determine the optimal allocation of the advertising budget. What maximum increment in sales can be expected? What is the next best solution? What minimum increase in sales can the company expect to attain from this advertising campaign, when the entire amount of Rs 7 lakh in spent?
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