What is the total cost in the optimal solution

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Reference no: EM133651519

Problem

A digital media company is launching an online advertising campaign to promote a series of educational webinars. The campaign targets six distinct demographic groups based on gender and age, with the goal of securing at least 200 webinar sign-ups from each group.

The company can display ads either during daytime or evening hours. The table below, along with the dataset "WebinarAdData.csv" available on Blackboard, provides the estimated click-through rates (CTR) for each demographic group during these time periods. For example, if the CTR for "Male, 19-24" during daytime is 11%, it is expected that out of 1000 ad impressions made in the daytime, there will be 110 sign-ups from males aged 19-24.

Table 1:

	Target Demographic Daytime Ad CTR Evening Ad CTR
Male, 14-18	15%	19%
Female, 14-18	12%	16%
Male, 19-24	11%	15%
Female, 19-24	7%	15%
Male, over 24	16%	14%
Female, over 24	14%	12%
No Interaction	25%	9%

The cost per 1000 ad impressions (CPM) during the daytime is $1.00, and in the evening, it is $1.50. These costs apply regardless of the number of sign-ups generated. Additionally, due to budget constraints, at most one-third of the total ad impressions can be allocated to evening hours.

Formulate a LP model to analyze how many ads should be displayed in each time period to allow the company to meet the sign-up goals in each demographic group at the lowest possible cost.

1. What is the total cost in the optimal solution?

2. How many ads are displayed at each time of day in the optimal solution?

Reference no: EM133651519

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