Please solve the following problems using Excel functions: Question 8-7

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8-7(Media selection problem) The advertising director for Diversey Paint and Supply, a chain of four retail stores on Chicago's North Side, is considering two media possibilities. One plan is for a series of half-page ads in the Sunday Chicago Tribune newspaper, and the other is for advertising time on Chicago TV. The stores are expanding their lines of do-it-yourself tools, and the advertising director is interested in an exposure level of at least 40% within the city's neighborhoods and 60% in northwest suburban areas. The TV viewing time under consideration has an exposure rating per spot of 5% in city homes and 3% in the northwest suburbs. The Sunday newspaper has corresponding exposure rates of 4% and 3% per ad. The cost of a half-page Tribune advertisement is $925; a television spot costs $2,000. Diversey Paint would like to select the least costly advertising strategy that would meet desired exposure levels. a. Formulate using LP. b. Solve the problem. RIGHT Newspaper TV Solutions 1 LEFT Objective 925 2000 Constrains 0.04 0.051 >>= 0.03 0.03 0.4 0.6 > RIGHT SIDE Internal Modem Solutions 1 Revenue Material Costa Test device Test device 2 Test device 3 Total Profit External Circuit CD Hard Memory LEFT Modem Board Drivers Driver Boards SIDE 1 1 1 1 1 200 120 180 130 430 260 35 25 40 45 170 60 7 3 12 6 18 17 2 51 3 2 15 17 2 9 CE 120 120 100