A Company Is Considering Various Advertising Media to Promote Its

question 14

Essay

A company is considering various advertising media to promote its new toy.Pertinent information regarding potential customers reached and costs per advertisement is given below:
$\begin{array}{lccc} & \text { No. of Customers } \\\text { Media } & \begin{array}{c}\text { Maximum Times } \\\text { Reached }\end{array} & \begin{array}{c}\text { Cost per } \\\text { Available per Month }\end{array} & \text { Advertisement } \\ \text { Daytime TV } & 1000 & 10 & \$ 2000 \\\text { Evening TV } & 3000 & 8 & \$ 3500 \\\text { Daytime Radio } & 500 & 15 & \$ 1000 \\\text { Evening radio } & 750 & 15 & \$ 1500 \\\text { Newspaper } & 900 & 4 & \$ 500\end{array}$

Currently,the company has a monthly advertising budget of $150,000.The marketing department has imposed the following restrictions:
•No more than $20,000 may be spent on radio advertising each month.
•At least 5 TV ads must be used each month.
Use Excel to formulate and solve this problem to maximize monthly audience exposure.

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Definitions:

Science of Behavior

The systematic study of the actions and reactions of humans and animals in response to external or internal stimuli.

Predict Human Behavior

The process of using psychological principles, statistical data, and algorithms to forecast actions or reactions of individuals in specific situations.

Connecting Information

The process of relating new information to existing knowledge in order to enhance understanding and memory.

Personal

Relating to or affecting an individual directly and intimately.