Required coverage at minimum cost

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Reference no: EM131801877

Can you please post a solution in Excel (with formulas) for the question below.

The following problem is a coverage problem like the TV ads problem with the exception that, unlike TV ads, each mailing list is either purchased or not. There are no multiple buys. In the same way that ad buys can be constrained to be integer, they may be constrained to be binary (0,1). The solver dialog box for constraints abbreviates binary to "bin".

A political candidate wants to make a mass mailing to counteract some nasty remarks made recently by her opponent. Our candidate has identified five mailing lists that contain names and addresses of voters she might like to reach. Each list can be purchased for a price. Partial lists are not for sale. The number of names on each list in each of four professional categories are listed below along with the desired number of names to reach in each category and the price of each list. Find the subset of lists that will give the required coverage at minimum cost.

List	Law	HealthCare	Bus. Execs.	Academe	Price
1	28	4	7	2	$41,000
2	9	29	11	3	$52,000
3	6	3	34	18	$61,000
4	2	4	6	20	$32,000
5	8	9	12	14	43,000
Desired coverage	20	18	22	20

Reference no: EM131801877

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