Problem 4. (15 marks in total) A company has a $10,000 budget for an advertising campaign....

 

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Problem 4. (15 marks in total) A company has a $10,000 budget for an advertising campaign. With this budget, the company wants to reach the maximum number of potential customers. The following table provides information deemed accurate provided by officials from the following news media: newspaper, radio and television. Advertising cost per commercial Number of individuals reached per commercial Number of middle- or high-income individuals reached per commercial Number of males aged 25 or over reached per commercial Maximum number of commercials available Minimum number of commercials to pay for Newspaper $250 10,000 7,000 5,000 Radio $100 3,000 1,000 500 100 7 Television $2,500 75,000 50,000 25,000 20 2 The managers of the company want: a. to reach at least 300,000 individuals; b. that at least 50 percent of the individuals reached be middle- or high-income earners; and c. to reach at least 100,000 males aged 25 or over. Formulate a mathematical model to help the managers design the most effective advertising campaign that meets their requirements. Problem 4. (15 marks in total) A company has a $10,000 budget for an advertising campaign. With this budget, the company wants to reach the maximum number of potential customers. The following table provides information deemed accurate provided by officials from the following news media: newspaper, radio and television. Advertising cost per commercial Number of individuals reached per commercial Number of middle- or high-income individuals reached per commercial Number of males aged 25 or over reached per commercial Maximum number of commercials available Minimum number of commercials to pay for Newspaper $250 10,000 7,000 5,000 Radio $100 3,000 1,000 500 100 7 Television $2,500 75,000 50,000 25,000 20 2 The managers of the company want: a. to reach at least 300,000 individuals; b. that at least 50 percent of the individuals reached be middle- or high-income earners; and c. to reach at least 100,000 males aged 25 or over. Formulate a mathematical model to help the managers design the most effective advertising campaign that meets their requirements.