Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Business Analytics (MindTap Course List)
8th Edition
ISBN: 9781305947412
Author: Cliff Ragsdale
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 3, Problem 25QP
a)
Summary Introduction
To formulate: An linear programming model for the problem.
b)
Summary Introduction
To develop: A spreadsheet model and solve using solver.
c)
Summary Introduction
To identify: The optimal solution.
d)
Summary Introduction
To identify: The optimal solution after making the changes and comment on the optimal solution.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
An advertising company offer three types of mediums: television, newspaper and radio . The cost for each medium with its audience
coverage is given below.
Television
Newspaper
Radio
Cost per advertisement ($)
1500
600
300
Audience per advertisement
120,000
45,000
15,000
The company is capable of using a number of newspaper advertisement slots up to 8. Moreover, in order to balance the advertising among
the three types of media, the total number of advertisements on radio should not occur more than 39% of total number of advertisement. and
at least 8% of the total number of advertisements should occur on television. The weekly advertising budget is $20700. How many
advertisements should be run in each of the three types of media to maximize the total audience?
If we assume the number of ads on each type of meduim as follows : T , N, R respectively
Given the following budget constrain:
aT + bN + cR s 20700
What is the value of b?
Remember: The answer box can not accept any text
The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are underway for this year's program. Advertising alternatives include television, radio, and online. Audience estimates, costs, and maximum media usage limitations are as shown:
Constraint
Television
Radio
Online
Audience per advertisement
110,000
17,000
30,000
Cost per advertisement
$2,500
$300
$500
Maximum media usage
10
23
10
To ensure a balanced use of advertising media, radio advertisements must not exceed 40% of the total number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized.
(a)
If the promotional budget is limited to $20,500, how many commercial messages should be run on each medium to maximize total audience contact? If your answer is zero enter “0”.
Advertisement Alternatives
No of commercialmessages
Television…
Marcus is a computer engineer who has recently developed an app which helps userskeep track of medical information, doctor’s appointments, and prescriptions.Information about the user is stored in this app, including what prescriptions they aretaking and how frequently they schedule doctor’s appointments. As the developers ofthe app, Marcus and his company have access to this information.The marketing department requests Marcus supply them with customer-specificinformation so they can better target ads and app suggestions to the users. Marcusunderstands that he is part of a company, but also feels that the privacy of the appusers should be protected. Additionally, Marcus feels that as an engineer, he should beresponsible to those who use his technology.Note that Marcus is not a healthcare provider, nor does he work for a medicalfacility. As you plan your answer, consider the current healthcare and legal climatesand concerns that may exist relating to individuals' healthcare choices.
1.…
Chapter 3 Solutions
Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Business Analytics (MindTap Course List)
Ch. 3 - Prob. 1QPCh. 3 - Prob. 2QPCh. 3 - Prob. 3QPCh. 3 - Prob. 4QPCh. 3 - Prob. 5QPCh. 3 - Prob. 6QPCh. 3 - Refer to question 19 at the end of Chapter 2....Ch. 3 - Prob. 8QPCh. 3 - Prob. 9QPCh. 3 - Prob. 10QP
Ch. 3 - Prob. 11QPCh. 3 - Prob. 12QPCh. 3 - Prob. 13QPCh. 3 - Prob. 14QPCh. 3 - Prob. 15QPCh. 3 - Prob. 16QPCh. 3 - Prob. 17QPCh. 3 - Tuckered Outfitters plans to market a custom brand...Ch. 3 - Prob. 19QPCh. 3 - Prob. 20QPCh. 3 - Prob. 21QPCh. 3 - Prob. 22QPCh. 3 - Prob. 23QPCh. 3 - Prob. 24QPCh. 3 - Prob. 25QPCh. 3 - Prob. 26QPCh. 3 - A manufacturer of prefabricated homes has decided...Ch. 3 - Prob. 28QPCh. 3 - Prob. 29QPCh. 3 - Prob. 30QPCh. 3 - Prob. 31QPCh. 3 - Prob. 32QPCh. 3 - Prob. 33QPCh. 3 - Prob. 34QPCh. 3 - Prob. 35QPCh. 3 - Prob. 36QPCh. 3 - Prob. 37QPCh. 3 - Prob. 38QPCh. 3 - Prob. 39QPCh. 3 - Prob. 40QPCh. 3 - Prob. 41QPCh. 3 - Prob. 42QPCh. 3 - Prob. 43QPCh. 3 - Prob. 44QPCh. 3 - A natural gas trading company wants to develop an...Ch. 3 - Prob. 46QPCh. 3 - The CFO for Eagle Beach Wear and Gift Shop is in...Ch. 3 - Prob. 48QPCh. 3 - Prob. 1.1CCh. 3 - Prob. 1.2CCh. 3 - Prob. 1.3CCh. 3 - Prob. 1.4CCh. 3 - Prob. 2.1CCh. 3 - Prob. 2.2CCh. 3 - Prob. 2.3CCh. 3 - Prob. 2.4CCh. 3 - Prob. 2.5CCh. 3 - Kelly Jones is a financial analyst for Wolverine...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.Similar questions
- The Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year’s program. Advertising alternatives include television, radio, and online. Audience estimates, costs, and maximum media usage limitations are as shown: Constraint Television Radio Online Audience per advertisement 100,000 18,000 40,000 Cost per advertisement $2000 $300 $600 Maximum media usage 10 20 10 To ensure a balanced use of advertising media, radio advertisements must not exceed 50% of the total number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized. If the promotional budget is limited to $18,200, how many commercial messages should be run on each medium to maximize total audience contact? What is the allocation of the budget among the three media? Let T = number of television spot advertisements R = number of…arrow_forwardThe Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year's program. Advertising alternatives include television, radio, and online. Audience estimates, costs, and maximum media usage limitations are as shown: Constraint Television Radio Online Audience per advertisement 150,000 17,000 35,000 Cost per advertisement $1,500 $250 $500 Maximum media usage 12 18 11 To ensure a balanced use of advertising media, radio advertisements must not exceed 45% of the total number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized. (a) If the promotional budget is limited to $24,000, how many commercial messages should be run on each medium to maximize total audience contact? If your answer is zero enter “0”. Advertisement Alternatives No of commercialmessages Television…arrow_forwardThe Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year's program. Advertising alternatives include television, radio, and online. Audience estimates, costs, and maximum media usage limitations are as shown: Constraint Television Radio Online Audience per advertisement 140,000 18,000 30,000 Cost per advertisement $1,500 $200 $550 Maximum media usage 15 19 12 To ensure a balanced use of advertising media, radio advertisements must not exceed 45% of the total number of advertisements authorized. In addition, television should account for at least 15% of the total number of advertisements authorized. (a) If the promotional budget is limited to $24,100, how many commercial messages should be run on each medium to maximize total audience contact? If your answer is zero enter "0". No of commercial Advertisement Alternatives messages Television Radio Online What is the allocation of the budget…arrow_forward
- Carmine is focused on the size of his product’s market, where the products should be made available, and whom to target with advertising. He is focusing on which marketing mix elements?arrow_forwardNissan is introducing a new model, the 2022 Rogue, and wants to mail promotional material to potential customers that are most likely to buy. The Nissan brand manager has $50,000 for this campaign and each promotional mailer costs $1.25. Through its own data collection practices as well as data purchases, Nissan has a database of 120,000 people (each with a number of important attributes) who have received similar mailers in the past and whether or not an automobile purchase was made. Nissan has a second database (of potential customers) with the same attributes that they would like to market the new Rogue to. What is an appropriate business analytic technique to obtain new buyers in the most cost effective manner? classification tree analysis traditional regression analysis Omarket basket analysis O analysis of variancearrow_forwardNearly 50 firms make pencils and pens in the United States. We R' Write is one of those firms. These firms range from large companies such as Bic, Paper Mate, and Pilot to generic-brand pencils and pens. There are also higher-end pens and pencils produced by firms such as Montblanc and Cross. We R' Write would like to determine how they can better compete against the other firms in the market. For this question, address the following: What is the market structure for the pen and pencil market in the United States? What characteristics of the pen and pencil market help you draw your conclusion? Given the market structure, how can We R' Write better compete against other firms in the market? At an industry trade show this past December, We R' Write management heard rumors that the three largest pen manufacturers in the United States are considering a merger. If this merger takes place, the new company will potentially control 62% of the total market share of pen sales. Could the federal…arrow_forward
- As part of a campaign to promote its annual clearance sale, Excelsior Company decided to buy television advertising time on Station KAOS. Excelsior's television advertising budget is $111,000. Morning time costs $3000/min, afternoon time costs $1000/min, and evening (prime) time costs $12,000/min. Because of previous commitments, KAOS cannot offer Excelsior more than 6 min of prime time or more than a total of 25 min of advertising time over the 2 weeks in which the commercials are to be run. KAOS estimates that morning commercials are seen by 200,000 people, afternoon commercials are seen by 100,000 people, and evening commercials are seen by 600,000 people. How much morning, afternoon, and evening advertising time should Excelsior buy to maximize exposure of its commercials? morning min afternoon min evening minarrow_forwardThe Westchester Chamber of Commerce periodically sponsors public service seminars and programs. Currently, promotional plans are under way for this year's program. Advertising alternatives include television, radio, and online. Audience estimates, costs, and maximum media usage limitations are as shown: Constraint Television Radio Online 100,000 16,000 35,000 Audience per advertisement Cost per advertisement $1,500 $250 $650 Maximum media usage 10 24 14 To ensure a balanced use of advertising media, radio advertisements must not exceed 50% of the total number of advertisements authorized. In addition, television should account for at least 10% of the total number of advertisements authorized. (a) If the promotional budget is limited…arrow_forward[Ad] Suppose the cost of a full-page color ad in the U.S. national edition of The Wall Street Journal (newspaper) is $327,897 and its U.S. audience size is 1,566,027. The cost of a full-page color ad in the U.S. national edition of Sports Illustrated (magazine) is $396,600 and has an audience size of 3,000,000. The cost of a 30-second ad on the most recent Super Bowl telecast is $7,000,000 and has an audience size of 100,000,000. Using this information, which metric should be used to determine the most efficient advertising media vehicle? O reach O GRP O frequency O CPM O ratingarrow_forward
- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?arrow_forwardManagement of the Toys R4U Company needs to decide whether to introduce a certain new novelty toy for the upcoming Christmas season, after which it would be discontinued. The total cost required to produce and market this toy would be $500,000 plus $15 per toy produced. The company would receive revenue of $35 for each toy sold. Assuming that every unit of this toy that is produced is sold, write an expression for the profit in terms of the number produced and sold. Then find the break-even point that this number must exceed to make it worthwhile to introduce this toy. Now assume that the number that can be sold might be less than the number produced. Write an expression for the profit in terms of these two numbers. Formulate a spreadsheet that will give the profit in part b for any values of the two numbers. Write a mathematical expression for the constraint that the number produced should not exceed the number that can be sold.arrow_forwardAndy’s Bicycle Company (ABC) has the hottest new product on the upscale toy market—boys’ and girls’ bikes in bright fashion colors, with oversize hubs and axles; shell design safety tires; strong padded frames; chrome-plated chains, brackets, and valves; and non-slip handlebars. Due to the seller’s market for high-quality toys for the newest baby boomers, ABC can sell all the bicycles it manufactures at the following prices: boys’ bikes, $220; girls’ bikes, $175. This is the price payable to ABC at its Orlando plant. The firm’s accountant, V. R. Dondeti, has determined that direct labor costs will be 45% of the price that ABC receives for the boys’ model and 40% of the price received for the girls’ model. Production costs, other than labor but excluding painting and packaging, are $44 per boys’ bicycle and $30 per girls’ bicycle. Painting and packaging are $20 per bike, regardless of model. The Orlando plant’s overall production capacity is 390 bicycles per day. Each boys’…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,