Question: There is one problem to be solved. You are not required to submit any answer report or sensitivity report for question. Define your decision variables
There is one problem to be solved. You are not required to submit any answer report or sensitivity report for question. Define your decision variables clearly.
The LP formulation and corresponding Excel Sensitivity Report for a media selection problem are provided below.
T = number of commercials on TV , M = number of advertisements in magazines , R = number of commercials on radio, I = number of advertisements in Instagram
Maximize Exposures = 1200T + 600M + 900R + 600I subject to 300T + 155M + 200R + 160I 5,000 (ad budget) , 100T + 45M + 60R + 40I 2,000 (planning budget) , 600M + 600I 12,000 (min. requirement of exposure from Magazine and Instagram ads),T 3 (min TV spots) R 10 (max Radio spots T, M, R, I 0.
Show your calculations clearly and provide the number(s) for your answers wherever possible.
- What is the optimal solution and the total exposure represented by the objective function?
- What is the impact on total exposure if we increase the ad budget by 200 units?
- What is the impact on total exposure if we decrease the planning budget by 400 units?
- What is the impact on total exposure if we decrease the planning budget by 600 units?
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