Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Problem

Print Media Advertising (PMA) has been given a contract to the market Buzz Cola through newspaper ads in a major southern newspaper. Full-page ads in weekday editions (Monday through Saturday) cost $2000, while on Sunday a full-page ad costs $8000. Daily circulation of newspaper is 30,000 on weekdays and 80,000 on Sundays.

PMA has been given a $40,000 advertising budget for month of the August. The experienced advertising executives at PMA feel that both weekday and Sunday newspaper ads are significant; therefore they wish to run the equivalent of at least eight weekday and at least two Sunday ads during August. (Suppose that a fractional ad would simply mean that a smaller ad is placed on one of the days; that is, 3.5 ads would mean three full-page ads and one half-page ad. Also, suppose that smaller ads diminish exposure and costs proportionately.) This August has 26 weekdays and 5 Sundays.

The objective is to find out the optimal placement of ads by PMA in the newspaper throughout August so as to maximize the cumulative total exposure (as measured by circulation) for the month of August.

a) Formulate linear programming model for the problem.
b) Use Graphical method to find out the optimal solution. Show all steps.
c) Use Excel Solver to find out the optimal solution. Copy and paste your spreadsheet and the Answer report in its entirety from Excel.

Remember to not modify /delete any part of the Answer Report.

Here is how the spreadsheet was set up for Excel Solver. The spreadsheet shows 10 weekdays and 10 for Sundays.  These numbers were selected arbitrarily. Any quantities can be entered weekdays and Sundays since Excel Solver would find the optimal solution anyway.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91525

Have any Question? 


Related Questions in Statistics and Probability

Suppose that a certain college class contains 42 students

Suppose that a certain college class contains 42 students. Of these, 23 are freshmen, 28 are history majors, and 8 are neither. A student is selected at random from the class. (a) What is the probability that the student ...

Carter motor company claims that its new sedan the libra

Carter Motor Company claims that its new sedan, the Libra, will average better than 24 miles per gallon in the city. Use μ, the true average mileage of the Libra. Express the null hypothesis and the alternative hypothesi ...

Satistics project come up with a survey pick a population

Statistics Project: Come up with a survey: Pick a population Come up with 4 variablesà 2 Quantitative & 2 Qualitative (make up numbers) Pick 50 data points for each variable, make a table on excel, use a scatter plot gra ...

An article in archaeometry involved an analysis of 48

An article in Archaeometry involved an analysis of 48 samples of Romano-Britishpottery, found at four different kiln sites in the United Kingdom. The samples were analyzed todetermine their chemical-composition. The perc ...

For each experiment described below identify any confounds

For each experiment described below, identify any confounds that may be present. (Be careful not to identify things as confounds that are not.) Then, redesign each study to eliminate any confounds that you find. Write a ...

Assignment1 assume the speed of vehicles along a stretch

Assignment 1. Assume the speed of vehicles along a stretch of I-10 has an approximately normal distribution with a mean of 71 mph and a standard deviation of 8 mph. The current speed limit is 65 mph. a. What proportion o ...

The number of credits being taken by a sample of 13

The number of credits being taken by a sample of 13 full-time college students are listed below. Find the mean, median, and mode of the data, if possible. If any measure cannot be found or does not represent the center o ...

Construct an aumann model of incomplete information for

Construct an Aumann model of incomplete information for each of the following situations, and specify a state of the world in that model which corresponds to the situation (there are several possible ways of including hi ...

Data show that narcissistic people who have a grandiose

Data show that narcissistic people (who have a grandiose, inflated perception of themselves) often fly into a "narcissistic rage" when things don't go their way. (In other words, they throw a temper tantrum.) A resea ...

Emily marc and thomas meet at a party to which novelists

Emily, Marc, and Thomas meet at a party to which novelists and poets have been invited. Every attendee at the party is either a novelist or a poet (but not both). Every poet knows all the other poets, but every novelist ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro