1 answer

(4 points) A hardware store will run an advertising campaign using radio and newspaper. Every dollar...

Question:

(4 points) A hardware store will run an advertising campaign using radio and newspaper. Every dollar spent on radio advertisi

(4 points) A hardware store will run an advertising campaign using radio and newspaper. Every dollar spent on radio advertising will reach 70 people in the "Under $25,000" market, and 30 people in the "Over $25,000" market. Every dollar spent on newspaper advertising will reach 80 people in the "Under $25,000" market, and 20 people in the "Over $25,000" market. If the store wants to reach at least 218,000 people in the "Under $25,000" market and 240,000 people in the "Over $25,000" market, how much should it spend on each type of advertising to minimize the cost? Minimum amount spent on advertising (in dollars): 000 109 Dollars spent on radio advertising: Dollars spent on newspaper advertising:

Answers

Solution -

In this case we want to see which form of each advertisement gives us the more money so in over $25000 market radio is preferable and under $25000 market newspaper is preferable.

So the computation

1. Minimum amount spent on advertising = (218000/80) + (240000/30)

= $10725

2. Dollar spent on radio advertising = Over $25000

= 240000/30 = $8000

3. Dollar spent on newspaper advertising = Under $25000

= 218000/80 = $2725

.

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