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Set up and solve in Excel Solver the following problems:

A company is considering various advertising media to promote its new toy. Pertinent information regarding potential customers reached and costs per advertisement is given below:

No. of Customers Maximum Times Cost per

Media Reached Available per Month Advertisement

Daytime TV 1000 10 $2000

Evening TV 3000 8 $3500

Daytime Radio 500 15 $1000

Evening radio 750 15 $1500

Newspaper 900 4 $500

Currently, the company has a monthly advertising budget of $150,000. The marketing department has imposed the following restrictions:

• No more than $20,000 may be spent on radio advertising each month.

• At least 5 TV ads must be used each month.

Write the linear programming formulation to determine what media should be used to maximize monthly audience exposure.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91992829

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