Question: Linear programming applications in marketing, finance, operations management, please provide solution with linear program Problems Note: The following problems have been designed to give you

Linear programming applications in marketing, finance, operations management, please provide solution with linear program

Linear programming applications in marketing, finance, operations management, please provide solution with

Problems Note: The following problems have been designed to give you an understanding and ap- preciation of the broad range of problems that can be formulated as linear programs. You should be able to formulate a linear programming model for each of the problems. How- ever, you will need access to a linear programming computer package to develop the solu- tions and make the requested interpretations. 1. The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year's program. Advertis- ing alternatives include television, radio, and newspaper. Audience estimates, costs, and maximum media usage limitations are as shown: Constraint Television Radio Newspaper SELF test Audience per advertisement 100,000 18,000 40,000 Cost per advertisement $2000 $300 $600 Maximum media usage 10 20 10 To ensure a balanced use of advertising media, radio advertisements must not ex- ceed 50% of the total number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized. a. If the promotional budget is limited to $18,200, how many commercial messages should be run on each medium to maximize total audience contact? What is the allo- cation of the budget among the three media, and what is the total audience reached? b. By how much would audience contact increase if an extra $100 were allocated to the promotional budget

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