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Statistics - problem homework set

Question 1 of 20: A toy store is opening a new location and need...

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Statistics - problem homework set

Question 1 of 20:

A toy store is opening a new location and needs to advertise. They want to reach as many customers as possible per month. The total budget is $20,000. Internet advertising is to be emphasized; at least 15 ads need to be online, but no more than $12,000 can be spent on internet advertising. (I = internet ad). The maximum number of times an ad can be run is in the table. How many of each ad should be run per month to maximize customers reached and meet all constraints?

Answer

Below you'll find only solution 1. Check the email connected to your facebook account to see all of the completed problems.

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Solution_1

Type of Ad
Price ($)
Maximum Available
Customers Reached
Newspaper
1000
7
4000
Radio
600
8
2000
TV
1400
10
3000
Google (I)
800
15
1500
Facebook (I)
200
10
1000
Youtube (I)
1800
6
6000

Step 1 of 1

a)
Here the decision variables of the problem is

= Price can be spent on internet advertising

= The Maximum number of times an ad can be run

Max Z = 20000 +15

Subject to
1000 + 7 4000
600 + 8 2000
1400 + 10 3000
800 + 15 1500
200 + 10 1000
1800 + 6 6000

0, 0

b)

Type of Ad
Price ($)
Customers Reached
Maximum Available
Newspaper
1000
4000
7
Radio
600
2000
8
TV
1400
3000
10
Google (I)
800
1500
15
Facebook (I)
200
1000
10
Youtube (I)
1800
6000
6

From the result of the excel solver we see that all constraints and optimality conditions are satisfied.

Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 7/26/2017

This 98 words question was answered by Colleen R. on StudySoup on 7/26/2017. The question contains content related to Statistics and Math. Since its upload, it has received 63 views.

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