help please thx
paint fair company advertises its weekly sales in newspapers, television, and radio. Each hundred dollars spent in advertising in newspapers is estimated to reach an exposure of 14 buying customers, and each hundred dollars in tv reaches an exposure 17 buying customers and each hundred dollars in radio reaches an exposure of 12 buying custumers.The company has an agreement with all three media services that it will spend less than 25% of its total money in each medium.further that it is agreed that the combined newspaper and television budget will not be larger than three times the radio budget. The company has just decided to spend no more than 700,000dollares on advertising. How much should the comapny budget for each medium if it is interested in reaching as many buying custumers as possible?
i just need the lp model so i can solve the rest...can you please help me with this...thank you very much god bless you
2 answers
Xn=newspaper
Xr=radio
Xt=TV
then the objective function is
Z=0.14Xn+0.12Xr+0.17Xt
B=700000 = budget
The budget constraints are therefore
Xn<0.25B
Xr<0.25B
Xt<0.25B
The competition constraint is
Xn+Xt<3Xr
So proceed with the algorithm you have learned to solve for the optimal solution. If you need additional information, here is a good reference:
http://en.wikipedia.org/wiki/Simplex_algorithm
3 answers