The XYZ eatery would like to establish the optimal way to allocate a monthly marketing budget at the most Rs. 10310 between TV and radio advertising. Management decided that at least 25% of the budget must be expended on each type of media. It required 1 unit of the amount of capital spent on local TV advertising and (-2) units of the amount spent on radio advertising with at the most a spent of 10% of monthly marketing budget. A marketing consultant developed an index that measures audience coverage per rupees of advertising on a scale of 0 to 100, with higher values implying greater audience coverage. If the value of the index for local TV advertising is 50 and the value of the index for spot radio advertising is 80, how would the eatery allocate its advertising cost in order to maximize the value of total audience coverage?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
The XYZ eatery would like to establish the optimal way to allocate a monthly marketing budget at the most Rs. 10310 between TV and radio advertising. Management decided that at least 25% of the budget must be expended on each type of media. It required 1 unit of the amount of capital spent on local TV advertising and (-2) units of the amount spent on radio advertising with at the most a spent of 10% of monthly marketing budget. A marketing consultant developed an index that measures audience coverage per rupees of advertising on a scale of 0 to 100, with higher values implying greater audience coverage. If the value of the index for local TV advertising is 50 and the value of the index for spot radio advertising is 80, how would the eatery allocate its advertising cost in order to maximize the value of total audience coverage?
Formulate a linear programming model that can be used to determine how the eatery should allocate its advertising capital to maximize the value of total audience coverage. Solve it to get the optimum capital allocation to maximize the total audience coverage. Use graphical method
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