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

A medical inspector wants to estimate the overall average

A medical inspector wants to estimate the overall average monthly occupancy rates of the cancer wards in 80 different hospitals that are evenly located in the northwestern, southeastern, central, and southern suburbs on ...

A balanced coin is tossed nine times find the probabilities

A balanced coin is tossed nine times. Find the probabilities of each of the following events: (a) exactly 3 heads occurred; (b) at least 3 heads occurred; (c) at least 3 heads and at least 2 tails occurred.

The power spectrum at the input to an ideal bpf islet the

The power spectrum at the input to an ideal BPF is Let the transfer function for the ideal BPF be Determine the autocorrelation function of the output. You may have to make a reasonable approximation to obtain a simplifi ...

In a digital communication system a block of data bits is

In a digital communication system, a block of data bits is mapped into an -bit codeword that typically contains the information bits as well as redundant bits. This is known as an block code. The redundant bits are inclu ...

The received voltage in a 75 omeganbsp antenna of a

The received voltage in a 75 Ω  antenna of a wireless communication system is modeled as a Rayleigh random variable,  What does the value of the parameter σ need to be for the received power to be 10μW?

Ifnbsp x t is a wide sense stationary gaussian random

If  X( t) Is a wide sense stationary Gaussian random process, find the cross-correlation between X(t) and X 3 (t) in terms of the autocorrelation function

A random variable has a cdf given bya find the mean of x b

A random variable has a CDF given by (a) Find the mean of X ; (b) Find the variance of X ; (c) Find the coefficient of skewness of X ; (d) Find the coefficient of kurtosis of X .

A shot noise process with random amplitudes is defined

A shot noise process with random amplitudes is defined by where the are a sequence of points from a Poisson process and the A i  are IID random variables which are also indpendent of the Poisson points. (a) Find the mean ...

1 in each of the following classify the resulting data

1. In each of the following, classify the resulting data variable as qualitative or as quantitative. If quantitative, label as discrete or as continuous. a. The U.S. Census Bureau collects data on household size in the U ...

In the game of risk two players compete in a game of dice

In the game of RISK, two players compete in a game of dice rolling for conquest of the world. One player is on "offense" while the other is on "defense." For this problem, the player on offense is allowed to roll multipl ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate