Question: Media Selection from the lecture notes. Solve the problem using Excels Solver, but make two changes to the program. First, have the objective function maximize

Media Selection from the lecture notes. Solve the problem using Excels Solver, but make two changes to the program. First, have the objective function maximize the potential families reached. Second add a constraint to ensure that an exposure level of at least 2000 is obtained. Does your answer differ from the one for the original program?

Media Selection from the lecture notes. Solve the

Media Selection from the lecture notes. Solve the

Example 5: Media Selection Consider an advertising budget of $30,000. At least 10 television commercials must be used, and at least 50,000 potential purchasers must be reached during the campaign. Also, no more than $18,000 may be spent on television advertisements. Given the data below, what is the optimal advertising media plan that will maximize expected exposure? Maximum Availability Expected Exposure Units 15 Potential Families Reached 1000 2000 1500 2500 300 Advertising Media Daytime TV (1 min.) Evening TV (30 sec.) Daily newspaper Sunday newspaper_ Radio (30 sec.) 65 Cost Per Ad $1500 $3000 $400 $1000 $100 Let X1 = number of daytime TV ads X2 = number of evening TV ads X3 = number of daily newspaper ads X4 = number of Sunday newspaper ads X5 = number of radio ads Max 65X; + 90X2 + 40X3 + 60X4 + 20X5 Subject to Xi 10 1000X+ 2000X2 + 1500X3 + 2500X4 + 300X; > 50,000 1500X; + 3000X2 0 for all i Answer X1 = 10 X2 = 0 X3 = 25 X4 = 2 X5 = 30 exposure = 2370

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