Sensitivity Analysis. See Sensitivity Media Selection file attached for your problem information. Answer the following questions:

1) What is the range of optimality for each product?

2) What is the reduced cost for those listed and what do they mean?

3) What is the range of feasibility for each constraint?

4) What is the shadow price for any listed and what do they mean?

5) Develop a multiple change equation for the objective coefficients (function) ie top part of the sensitivity report and determine if it is feasible.

Develop a multiple change equation for the constraints ie bottom part of the sensitivity report and determine if it is feasible.

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. 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