A firm is planning to spend $75,000 on advertising.  It costs $3000 per minute to advertise on television and $1000 per minute to advertise on radio.  If the firm buys X minutes of television advertising and Y minutes of radio advertising, its revenue in thousands of dollars is given by -0.3x^2-0.4y^2+0.8xy+5x+10y.  How can the firm maximize its revenue? Formulate the written model and solver model.

Q: You are a new salesperson at a large software manufacturing firm. It is three weeks from the end of…

A: In the realm of sales, meeting and exceeding quarterly quotas is a key performance indicator that…

Q: You wish to estimate the mean number of travel days per year for salespeople. The mean of a small…

A: The objective of this question is to determine the sample size needed to estimate the population…

Q: dentify which type of analysis best fits each of the following descriptions.   Requires the use of…

A: Break-even is the point at which the costs associated with production equal the revenue generated.…

Q: Margaret Williams, production manager at Williams Manufacturing, finds her profits at $15,000…

A: Here, for each factor, I have given the dollar value, The current profit amount is 15000, and the…

Q: The sensitivity range of c₁ (profit per x₁, bowls) in the Beaver Creek Pottery example was 25 ≤ c₁…

A: The problem is sensitivity analysis.Sensitivity Analysis:Sensitivity analysis is a technique used in…

Q: For this equation. Daniel and his family recently moved to California. Daniel wants to know which…

A: given,

Q: You manage a cable company that offers 2 channels - NBC and Fox. You face 2 types of customers (type…

A: Type AType BNBC$10$15Fox$3$7Number of customers of Type A = 100Number of customers of Type B = 100

Q: ½ ounce of olive oil

A: 1 gallon is equal to 128 ounces So, Cost of 128 ounces = $18.95

Q: You are asked to help your boss deciding who is considering whether to make or buy a part for a top…

A: Given- Available machine hours = 2000 hours Making time = 4 hours/component Making cost = $40 per…

Q: An appraiser is assigning a value to a business. To do so, she calculates what it would cost to…

A: The objective of the question is to identify the valuation method being used by the appraiser who is…

Q: that this model was devised by Michael Porter to describe forces that shape competition within an…

A: The Porter 5 Forces model could be a framework for assessing a company's competitive atmosphere. A…

Q: (True, False) Stagflation happens when the economy is experiencing a bust and deflation. Stagflation…

A: "Since you have posted questions with multiple sub-parts, we will solve the first three sub-parts…

Q: Sales taxes tend to be regressive, that is why food, medicine are often excluded. True False

A: Sales taxes tend to be regressive, that is why food, medicine are often excluded.

Q: Once you have overdesigned your product, you need to do a ________ to match the needs and…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the three variables in Little’s law do you think is generally the most difficult to…

A: Little's law is described as the theorem through which the average number of items that are present…

Q: You receive a 100 000 Rand loan from your local bank that has to be repaid over a period of 10 years…

A: Please find the answer below.Initial uniform annual repayment :- The term "initial uniform annual…

Q: Historical data is a great way to predict future volume. You can also look at the rate at which your…

A: The objective of the question is to understand how to handle outlier data, specifically in the…

Q: Answer the given problem using the Customer Lifetime Value ( CLV) formula. Explain your answer The…

A: Customer lifetime value is the total amount of profit which the firm can extract from the customer,…

Q: Do you agree that all students in tertiary level (college, university, etc.) need to take at least…

A: The employee can be defined as the person who is hired by an organization to perform a specific role…

Q: At a price of $28.75, producers will provide 8 items, while at a price of $34.25, they will provide…

A: The point at which the quantity supplied of a good or service equals the quantity demanded is…

Q: A power producing company wants to purchase a natural gas futures contract. It will use the natural…

A: In the domain of financial markets, futures emerge as a distinctive category of financial…

Q: Which of the three variables in Little's law do you believe is the most difficult to estimate in…

A: Little's law is a theorem that can be used to figure out how many items are in a queue on average.…

Q: Patxiko just opened his website, where he sells his Patxaran online. His websites gatheres all kinds…

A: making pretty sites, however very little about advertising a site or making a site worked for the…

Q: A company's production manager is trying to determine the quantity of sensors to produce next year.…

A: Mean (X) = 600Standard deviation (Sd) = 90Critical fractile = 54%

Q: Integrated Products Corporation (IPC) needs to estimate its PC sales for next year. The most recent…

A: Year (t) XT PC Sales Revenue ($'000,000) (Y) 1 2.4 2 5.9 3 15.5 4 27.8 5 35.9 6 38.1…

Q: A grocery store sells a bag of 4 oranges for $2.84. How much would it cost for 5 oranges?

A: The objective of the question is to find out the cost of 5 oranges based on the given cost of 4…

Q: 10. Crowding out effect Suppose economists observe that an increase in government spending of $14…

A: Ans. ) Given the question where, an increase in government spending of $14 billion raises the total…

Q: (d) Is the problem feasible? Explain your answer. (e) If your answer to (d) yes, proceed to Phase II…

A: Linear programming is a mathematical technique that is also used in operations management…

Q: Required: 1. What is the cost equation for maintenance costs using the high-low method? 2. Calculate…

A: For the given data, I will find the cost equation for maintenance costs using the high-low method,…

Q: The company’s marketing manager estimates that there is a 60% chance that demand will rise faster…

A: Payoff table-

Q: Consider a consumer who searches to buy a new coffee mug and assume the only feature she cares about…

A: Answer: For answering the question, the following information we have- The consumer is searching…

Q: In dividing up the quality and price (MSRP) of similar retail goods, the expression good-…

A: Quality the check of the performance or how good is the product or services that are provided. It is…

Q: use the formula for present value of money to calculate the amount you need to to invest now in one…

A: The present value (PV) of a future sum of money or stream of cash flows is its current value. It is…

Q: The higher the price, the fewer goods or services consumers will demand. Conversely, the lower the…

A: Demand is the willingness of the consumer to purchase a particular good or service at a particular…

Q: Your insured calls to report that while ice fishing on Lake Simcoe his/her automobile went through…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: The employee credit union at State University is planning the allocation of funds for the coming…

A: Decision Variables: Suppose-X1 be the amount of investment/loan in Automobile loansX2 be the amount…

Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.