Question 3 Supreme Ventures Limited is a major gambling company in the Caribbean. Last year Supreme Ventures had budgeted up to $8,000 per week for local advertising. The money was allocated among four promotional media: tv spots, newspaper ads, and two types of radio advertisements. Supreme Ventures goal is to reach the largest possible high-potential audience through the various media at the lowest cost possible. The following table presents the number of potential gamblers reached by making use of an advertisement in each of the four media. It also provides the cost per advertisement placed and the maximum number of ads that can be purchased per week. Medium Audience Reached Cost Maximum Ads per Ad per Ad $ per Week spot (1 min) Daily newspaper (full-page ad) 8500 Radio spot (30 sec, primetime) TV 5,000 800 12 925 2400 290 25 Radio spot (1min afternoon) 2800 380 20 Supreme Ventures contractual arrangements require that at least 5 radio spots be placed each week. In addition, the firm wants to reach at least 67,000 persons through all media.

Advanced Engineering Mathematics
10th Edition
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Chapter2: Second-order Linear Odes
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Supreme Ventures contractual arrangements require that at least 5 radio spots be placed each
week. In addition, the firm wants to reach at least 67,000 persons through all media.
a) Formulate a linear programming model that would determine the optimal solution. An
explanation for the derivation of EACH equation should be provided.
b) Set up the initial simplex table. Ensure that you explain the steps taken.
c) Use the simplex method to solve the LP. Ensure that you explain the steps taken.
Transcribed Image Text:Supreme Ventures contractual arrangements require that at least 5 radio spots be placed each week. In addition, the firm wants to reach at least 67,000 persons through all media. a) Formulate a linear programming model that would determine the optimal solution. An explanation for the derivation of EACH equation should be provided. b) Set up the initial simplex table. Ensure that you explain the steps taken. c) Use the simplex method to solve the LP. Ensure that you explain the steps taken.
Question 3
Supreme Ventures Limited is a major gambling company in the Caribbean. Last year Supreme
Ventures had budgeted up to $8,000 per week for local advertising. The money was allocated
among
four promotional media: tv spots, newspaper ads, and two types of radio advertisements.
Supreme Ventures goal is to reach the largest possible high-potential audience through the
various media at the lowest cost possible. The following table presents the number of potential
gamblers reached by making use of an advertisement in each of the four media. It also provides
the cost per advertisement placed and the maximum number of ads that can be purchased per
week.
Medium
Audience Reached
Cost
Maximum Ads
per Ad
per Ad $
per Week
spot (1 min)
Daily newspaper (full-page ad)
Radio spot (30 sec, primetime)
TV
5,000
800
12
8500
925
5
2400
290
25
Radio
spot (1min afternoon)
2800
380
20
Supreme Ventures contractual arrangements require that at least 5 radio spots be placed each
week. In addition, the firm wants to reach at least 67,000 persons through all media.
Transcribed Image Text:Question 3 Supreme Ventures Limited is a major gambling company in the Caribbean. Last year Supreme Ventures had budgeted up to $8,000 per week for local advertising. The money was allocated among four promotional media: tv spots, newspaper ads, and two types of radio advertisements. Supreme Ventures goal is to reach the largest possible high-potential audience through the various media at the lowest cost possible. The following table presents the number of potential gamblers reached by making use of an advertisement in each of the four media. It also provides the cost per advertisement placed and the maximum number of ads that can be purchased per week. Medium Audience Reached Cost Maximum Ads per Ad per Ad $ per Week spot (1 min) Daily newspaper (full-page ad) Radio spot (30 sec, primetime) TV 5,000 800 12 8500 925 5 2400 290 25 Radio spot (1min afternoon) 2800 380 20 Supreme Ventures contractual arrangements require that at least 5 radio spots be placed each week. In addition, the firm wants to reach at least 67,000 persons through all media.
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