use excel pleasee

1- Identify the decision variables: UALR is considering advertising through multiple media/options. So the decision variables are the number of TV spots, paper, radio 30 s, and radio 60 s Ads.

2- Identify the objective: In this case each Ad has an impact on the number of audiences reached. For example, if you run 2 TV ads and nothing else then the total audience reached will be No. of Ads * the reach per TV ad.

So clearly the objective is to maximize the total reach.

3- Lastly, List down the constraints:

- calculate the total cost for the number of ads you are running, and total cost

- There is a maximum limit on number of each ad. So your decision variable cells

- There is the radio budget: So total spend on 30 s and 60 s radio ads

- You must have at least 5 radio ads. So if the number of the 30s and 60 s ads are in cells (as an example) B10 & C10 then B10+C10 >= 5

ECON 7200 1 Problem 1 (20 points) UALR is planning a campaign to increase its enrollment. The university has budgeted up to $8,000 per week for local advertising. The money may be allocated to different promotional media. UALR is considering four promotional media: newspapers, TV spots, and two types of radio advertisements. Their goal is to reach the largest possible high-potential audience through the various media. Table 1 presents the number of potential students reached by making use of an advertisement in each of the four media. It also provides the cost per advertisement placed and the maximum number of ads that can be purchased per week. Table 1: Data for UALR Advertising Campaign Medium Audience Reached Cost ($) Maximum Ads per week per Ad per Ad. TV Spot (1 minute) Newspaper (full-page) Radio spot (30 sec.) Radio spot (60 sec.) 5,000 8,500 2,400 2,800 800 925 290 380 12 5 25 20 UALR's contractual arrangements require that at least five radio spots be placed each week. Moreover, they also feel that in order to get a broad-scoped advertising campaign they should spend no more than $1,800 on radio advertising every week. a. Can you setup a Linear Programming problem and solve for the advertising mix that maximizes their reach to audience? (18 points) b. Suppose you can convince UALR to increase the maximum limit of TV spots to 13. Will you do that ? why or why not? (2 points) Hint: The problem is not as difficult as it seems to be! ECON 7200 1 Problem 1 (20 points) UALR is planning a campaign to increase its enrollment. The university has budgeted up to $8,000 per week for local advertising. The money may be allocated to different promotional media. UALR is considering four promotional media: newspapers, TV spots, and two types of radio advertisements. Their goal is to reach the largest possible high-potential audience through the various media. Table 1 presents the number of potential students reached by making use of an advertisement in each of the four media. It also provides the cost per advertisement placed and the maximum number of ads that can be purchased per week. Table 1: Data for UALR Advertising Campaign Medium Audience Reached Cost ($) Maximum Ads per week per Ad per Ad. TV Spot (1 minute) Newspaper (full-page) Radio spot (30 sec.) Radio spot (60 sec.) 5,000 8,500 2,400 2,800 800 925 290 380 12 5 25 20 UALR's contractual arrangements require that at least five radio spots be placed each week. Moreover, they also feel that in order to get a broad-scoped advertising campaign they should spend no more than $1,800 on radio advertising every week. a. Can you setup a Linear Programming problem and solve for the advertising mix that maximizes their reach to audience? (18 points) b. Suppose you can convince UALR to increase the maximum limit of TV spots to 13. Will you do that ? why or why not? (2 points) Hint: The problem is not as difficult as it seems to be