Question: solve on excel, please and please do not copy other answers The Royal Seas Company runs a three-night cruise to the Caribbean from Port Canaveral.
solve on excel, please and please do not copy other answers
The Royal Seas Company runs a three-night cruise to the Caribbean from Port Canaveral. The company wants to run TV ads promoting its cruises to high-income men, high-income women, and retirees. The company has decided to consider airing ads during prime-time, afternoon soap operas, and during the evening news. The number of exposures (in millions) expected to be generated by each type of ad in each of the company's target audiences is summarized in the following table: Prime Time Soap Operas Evening News 6 6 High-income men High-income women Retirees 3 4 3 4. 4. 7 3 Ads during prime-time, the afternoon soaps, and the news hour cost $120,000, $85,000, and $100,000, respectively. Royal Seas wants to achieve the following goals: . . Goal 1: Spend approximately $900,000 on TV advertising. Goal 2: Generate approximately 45 million exposures among high-income men. Goal 3: Generate approximately 60 million exposures among high-income women. Goal 4: Generate approximately 50 million exposures among retirees. Formulate a GP model for this problem. Assume overachievement of the first goal is equally as undesirable as underachievement of the remaining goals on a percentage deviation basis. . Implement your model in a spreadsheet and solve it. What is the optimal solution
Step by Step Solution
There are 3 Steps involved in it
To solve this problem using a Goal Programming GP model in Excel follow these steps Step 1 Define De... View full answer
Get step-by-step solutions from verified subject matter experts
