Solve the following questions. 1. Cedar Point amusement park management is prepa

Question

Solve the following questions. 1. Cedar Point amusement park management is preparing the park's annual promotional plan for the coming season. Several advertising alternatives exist: newspaper,television, radio, and displays at recreational shows. The information below shows the characteristics associated with each of the advertising alternatives, as well as the maximum number of placements available in each medium. Given an advertising budget of $125,000, how many placements should be made in each medium to maximize total audience exposure? Formulate this as a linear programming problem to be solved using QM Maximum number 50 25 25 1.5 Exposure Cost 750 1100 325 75 ewspaper elevision 40 60 22.5 Radio

Explanation / Answer

3. The econimic order quantity = (2*D*K/h), where D: Annual demand of the product; K:Cost per odrer; h: annual holding cost per unit

We have D = 9000; K = 150; h =0.85

EOQ = (2*9000*150 / 0.85) = (2*9000*150 / 0.85) = 1782.27

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