Solved: Media Selection A company has budgeted a maximum
Chapter , Problem 6.6.45(choose chapter or problem)
Media Selection A company has budgeted a maximum of $1,000,000 for national advertising of an allergy medication. Each minute of television time costs $100,000 and each one-page newspaper ad costs $20,000. Each television ad is expected to be viewed by 20 million viewers, and each newspaper ad is expected to be seen by 5 million readers. The companys market research department recommends that at most 80% of the advertising budget be spent on television ads. What is the optimal amount that should be spent on each type of ad? What is the optimal total audience?
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