Linear optimization, Linear Optimization

Linear optimization

Assignment Help Basic Statistics

Reference no: EM13529511

Linear Optimization.
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
150
$ 400
TV
800
$2000
a. Identify the decision variables, objective function, and constraints in simple verbal expressions.
b. Mathematically formulate a linear optimization model.

Reference no: EM13529511

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