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You are in charge of an advertising campaign for a new product, with a budget of $1 million. You can advertise on TV or in magazines. One minute of TV time costs $20,000 and reaches 1.8 million potential customers; a magazine page costs $10,000 and reaches 1 million. You must sign up for at least 10 minutes of TV time. How should you spend your budget to maximize your audience? 1. Assume that it is possible to advertise for fractions of a minute or page. Formulate the problem in AMPL and solve it. Please clearly define your decision variables and indicate whether they are real-valued or integer-valued. 2. It takes creative talent to create effective advertising; in your organization, it takes three person-weeks to create a magazine page, and one person-week to create a TV minute. You have only 100 person- weeks available. Add this constraint to the model and determine how you should now spend your budget. 3. Radio advertising reaches a quarter million people per minute, costs $2,000 per minute, and requires only 4 person-days of time. How does this medium affect your solutions? 4. How does the solution in part 3 change if it is impossible to purchase fractions of a minute or page?

You are in charge of an advertising campaign for a new product, with a budget of $1 million. You can advertise on TV or in magazines. One minute of TV time costs $20,000 and reaches 1.8 million potential customers; a magazine page costs $10,000 and reaches 1 million. You must sign up for at least 10 minutes of TV time. How should you spend your budget to maximize your audience? 1. Assume that it is possible to advertise for fractions of a minute or page. Formulate the problem in AMPL and solve it. Please clearly define your decision variables and indicate whether they are real-valued or integer-valued. 2. It takes creative talent to create effective advertising; in your organization, it takes three person-weeks to create a magazine page, and one person-week to create a TV minute. You have only 100 person- weeks available. Add this constraint to the model and determine how you should now spend your budget. 3. Radio advertising reaches a quarter million people per minute, costs $2,000 per minute, and requires only 4 person-days of time. How does this medium affect your solutions? 4. How does the solution in part 3 change if it is impossible to purchase fractions of a minute or page?

Database System Concepts
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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Need help in my intro to optimizations class.

You are in charge of an advertising campaign for a new product, with a budget of $1 million. You can advertise on TV or in magazines. One minute of TV time costs $20,000 and reaches 1.8 million potential customers; a magazine page costs $10,000 and reaches 1 million. You must sign up for at least 10 minutes of TV time. How should you spend your budget to maximize your audience? 1. Assume that it is possible to advertise for fractions of a minute or page. Formulate the problem in AMPL and solve it. Please clearly define your decision variables and indicate whether they are real-valued or integer-valued. 2. It takes creative talent to create effective advertising; in your organization, it takes three person-weeks to create a magazine page, and one person-week to create a TV minute. You have only 100 person- weeks available. Add this constraint to the model and determine how you should now spend your budget. 3. Radio advertising reaches a quarter million people per minute, costs $2,000 per minute, and requires only 4 person-days of time. How does this medium affect your solutions? 4. How does the solution in part 3 change if it is impossible to purchase fractions of a minute or page?
Transcribed Image Text:You are in charge of an advertising campaign for a new product, with a budget of $1 million. You can advertise on TV or in magazines. One minute of TV time costs $20,000 and reaches 1.8 million potential customers; a magazine page costs $10,000 and reaches 1 million. You must sign up for at least 10 minutes of TV time. How should you spend your budget to maximize your audience? 1. Assume that it is possible to advertise for fractions of a minute or page. Formulate the problem in AMPL and solve it. Please clearly define your decision variables and indicate whether they are real-valued or integer-valued. 2. It takes creative talent to create effective advertising; in your organization, it takes three person-weeks to create a magazine page, and one person-week to create a TV minute. You have only 100 person- weeks available. Add this constraint to the model and determine how you should now spend your budget. 3. Radio advertising reaches a quarter million people per minute, costs $2,000 per minute, and requires only 4 person-days of time. How does this medium affect your solutions? 4. How does the solution in part 3 change if it is impossible to purchase fractions of a minute or page?
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