MGMT511 - Quantitative Methods for Business Assignment 3 1. A store has allocated $1,000,000 for its advertising campaign during the next month. The store identified four different alternatives to be used. The first option is to advertise on TV, which costs $50,000 during the day, and $100,000 during the night. The expected reach for each TV ad is 200,000 customers during the day and 500,000 during the night. The second option is to advertise on Radio, which costs $10,000 during the day, and $20,000 during the night. The expected reach is 20,000 customers during the day and 40,000 during the night. The third option is to advertise on Facebook, which costs $500 per ad and can reach up to 10,000 customers. The fourth option is to advertise on Instagram, which costs $800 and can reach up to 15,000 customers. The store has set the following requirements to reach different customer groups. - Invest no more than 30% of the budget in any alternative. - Use more TV ads during the night than during the day. - Use more ads on Facebook than Instagram. - Use at least 2 Radio ads during the night. Formulate a linear programming model for this problem and solve it using Lingo