Evaluate the media-selection problem as a linear-programming problem; use the basic objective function to maximize return from all the investments
Part-1:
The first step in media selection is to formulate the media-selection problem as a linear-programming problem. The decision variables are the number of inserts in each of the media outlets, and the objective function is to maximize the number of customers reached. The constraints and objective functions are to be entered in Excel so that the problem can be solved using Excel QM
Part-2::
In this project, investment portfolio analysis is modelled as a linear-programming problem in which the decision variables are associated with the amount of money invested in each investment option. The objective function is to maximize the return from all the investments combined.
You need to evaluate the media-selection problem as a linear-programming problem.