Maximizing The Effectiveness of an Advertising Budget
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See the attached file for details of the problem. Given the conditions, how many ads should be placed to maximize the total number of people reached?
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Solution Summary
Given a fixed budget and known data on how many people each type of advertisement will reach, use marginal analysis to maximize the number of people reached by an ad campaign.
Solution Preview
See the attached file.
Solution:
1. Calculate the increase in audience per dollar spent.
2. Newspaper ads have the highest Aud/$, so max them out at 10.
3. TV spending must exceed Newspaper spending, so ...
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