Formulate mathematically a linear optimization model

Assignment Help Engineering Mathematics

Reference no: EM131439678

Question: Implement the linear optimization model that you developed for ColPal Products in Problem in Excel and use Solver to find an optimal solution. Interpret the Solver Answer report and identify the binding constraints and verify the values of the slack variables by substituting the optimal solution into the model constraints.

Problem: A brand manager for ColPal Products must determine how much time to allocate between radio and television advertising during the next month. Market research has provided estimates of the audience exposure for each minute of advertising in each medium, which it would like to maximize. Costs per minute of advertising are also known, and the manager has a limited budget of $25,000. The manager has decided that because television ads have been found to be much more effective than radio ads, at least 70% of the time should be allocated to television. Suppose that we have the following data:

Type of Ad Exposure/Minute Cost/Minute

Radio 350 $400

Tv 800 $2,000

a. Identify the decision variables, objective function, and constraints in simple verbal expressions.

b. Mathematically formulate a linear optimization model.

Reference no: EM131439678

Questions Cloud

Determine optimal design of health care delivery channels : Describe the function and flows that needs to be performed by Kaiser Permanente's marketing channel. Provide specific examples to support your response. determine the optimal design of health care delivery channels. Explain your rationale.

Find the service level and the optimal order quantity : A retailer buys newspaper from a publisher for $0.80 per copy and sells it for $1.5 per copy. Unsold copies are sold to a recycler for $0.50 per copy. Assume the demand for newspaper in the neighborhood is normally distributed with mean of 150 and st..

What the probability that more than four customers subscribe : Instead of offering no premium free channels, suppose that two free premium channels are included. What is the probability that fewer than 3 customers will subscribe? What is the probability that more than 4 customers will subscribe

Why the paradigm of unlimited growth is wrong : Refer to the "Ecological Footprint Analysis" instructions. After you complete your own analysis, relate the concept of social justice to the paradigm of unlimited economic growth in Part 1 above. How could this paradigm be changed with modificati..

Formulate mathematically a linear optimization model : A brand manager for ColPal Products must determine how much time to allocate between radio and television advertising during the next month. Market research has provided estimates of the audience exposure for each minute of advertising in each med..

Discuss the relationship of the scientific method : Discuss the relationship of the scientific method to the doctoral research process.

Expound on the optimality of usage of inputs : Expound on the optimality of usage of inputs and how it does not necessarily attain profit maximum in use of inputs.

Discuss how knowledge of these paradigms may inform : Babbie presents numerous theoretical paradigms which attempt to explain human social behavior. Discuss how knowledge of these paradigms may inform doctoral research. Reflect upon the doctoral research topic you have chosen or topics you are consi..

Create a function generator such that we control variable : Create a function generator such that, we will control 3 variable, its amplitude, duty cycle and frequency (1 Hz to 10 Khz). by simply changing these variables, we will change functions frequnecy, amplitude and duty cycle.

User Account

All Pages