A marketing research firm would like to do a survey for one of their clients. The...

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Finance

A marketing research firm would like to do a survey for one oftheir clients. The survey is for a local newspaper that would liketo know how effective its advertising strategy has been for a newpublication. The cost for surveying is $11 for a low-incomehousehold, $8.5 for a mid-income household, and $9.5 for ahigh-income household. The survey must include at least 300households. At least 75 must be high-income homes and at least 145should be low and mid-income households. The ratio of mid-income tolow-income household should not be greater that 3 to 1. Formulate alinear programming model that will minimize surveying costs.

How many decision variables are in this problem?

None of the amswers given here

5

4

3

0

2

How many constraints are there in this problem (do not includethe trivial constraints)

None of the answers given here

2

4

3

5

1

  1. How many of the constraints are ? constraints?

    3

    5

    2

    1

    6 or more

    0

Which of the following is the correct ratio constraint, giventhat X1 represents low income and X2 mid income?

-3X1 + X2 ? 0

X1 – 3X2 ? 0

None of the answers given here

X1 – 3X2 ? 0

3X1 – X2 ? 0

The objective function is

11X1 + 8.5 X2 + 9.5 X3

None of the answers given here

11X1 + 8.5 X2

X1 + X2 + X3

X1 + X2

X1 + X2 + X3 ? 300

Which constraint belongs to this model?

None of the answers given here

X1 + X3 ? 145

X1 + X2 + X3 ? 75

X3 ? 75

X1 ? 145

Answer & Explanation Solved by verified expert
4.0 Ratings (619 Votes)
Let the number of low income house hold be X1 mid income house hold    See Answer
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Transcribed Image Text

A marketing research firm would like to do a survey for one oftheir clients. The survey is for a local newspaper that would liketo know how effective its advertising strategy has been for a newpublication. The cost for surveying is $11 for a low-incomehousehold, $8.5 for a mid-income household, and $9.5 for ahigh-income household. The survey must include at least 300households. At least 75 must be high-income homes and at least 145should be low and mid-income households. The ratio of mid-income tolow-income household should not be greater that 3 to 1. Formulate alinear programming model that will minimize surveying costs.How many decision variables are in this problem?None of the amswers given here54302How many constraints are there in this problem (do not includethe trivial constraints)None of the answers given here24351How many of the constraints are ? constraints?35216 or more0Which of the following is the correct ratio constraint, giventhat X1 represents low income and X2 mid income?-3X1 + X2 ? 0X1 – 3X2 ? 0None of the answers given hereX1 – 3X2 ? 03X1 – X2 ? 0The objective function is11X1 + 8.5 X2 + 9.5 X3None of the answers given here11X1 + 8.5 X2X1 + X2 + X3X1 + X2X1 + X2 + X3 ? 300Which constraint belongs to this model?None of the answers given hereX1 + X3 ? 145X1 + X2 + X3 ? 75X3 ? 75X1 ? 145

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