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 S per Week TV spot (1 min) 5,000 800 12 Daily newspaper (full-page ad) 8500 925 5 290 25 Radio spot (30 sec, primetime) 2400 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. Formulate a linear programming model that would determine the optimal solution. An

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 S per Week TV spot (1 min) 5,000 800 12 Daily newspaper (full-page ad) 8500 925 5 290 25 Radio spot (30 sec, primetime) 2400 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. Formulate a linear programming model that would determine the optimal solution. An

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Concept explainers

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

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 S
per Week
12
TV spot (1 min)
Daily newspaper (full-page ad) 8500
Radio spot (30 sec, primetime) 2400
Radio spot (1min afternoon)
5,000
800
925
5
290
25
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.
Formulate a linear programming model that would determine the optimal solution. An

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