## (Solved) ITG is an electronic company which developed a new MP3 player and plans to do consumer research by collecting surveys.

ITG is an electronic company which developed a new MP3 player and plans to do consumer research by collecting surveys. To fully draw statistically valid results, it Must fulfill the following requirements:

1) survey at least 4,000 customers in total
2) survey at least 2,000 customers who are 25 years of age or younger
3) survey at least 1,200 customers who are 25 and 40 years of age
4) ensure that at least 40% of those surveyed customers are make
5) ensure that a most 100 of those surveyed male customers are older than 40 years of age

ITG estimates that the costs of reaching people in each age and gender category are as follows:

Gender:Male
Cost per person surveyed (\$)
Â Â Â  ~age <25: \$4.5
Â Â Â  ~age 25-40: \$3.5
Â Â Â  ~age >40: \$5.00

Gender:Female
Cost per person surveyed (\$)
Â Â  ~Age<25: \$3.80
Â Â  ~Age 25-40: \$4.20
Â Â  ~Age >40: \$5.40

Apply linear programming to model this marketing research problem to minimize the interview cost in total (define decision variables and write the objective function and constraints)

A) formulate this as a linear program

Use excel and also show answer report analysis
B) solve this program. What is the optimal solution? What is the total cost?

Thanks so much!

Solution details:
STATUS
QUALITY
Approved

This question was answered on: Sep 05, 2019

Solution~000200159077.zip (25.37 KB)

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free solution (Deadline assured. Flexible pricing. TurnItIn Report provided)

STATUS

QUALITY

Approved

Sep 05, 2019

EXPERT

Tutor