Problem 3: An advertising campaign for a new snack chip will…
Problem 3: An advertising campaign for a new snack chip will be conducted in a limited geographical area and can use TV times, and radio times. Information about each media is shown below. Medium Cost Per Ad # Reached Exposure Quality TV $ 500 10000 40 Radio $ 200 3000 30 Because the number of reached and exposure quality of TV outperforms that of Radio, the number of TV ad should be at least 1.5 times of the number of Radio ad. Also, the money spent on TV ads cannot be below to half of the budget. If the advertising budget is $12,000, develop the model that will maximize the number reached and achieve an exposure quality if at least 800. a. Define the decision variables. (10 points) b. Formulate the objective function (10 points) c. Define the constraints (20 points)