An advertising agency spends $x on a newspaper campaign and a further $y promoting its client's products on local radio. It receives 15% commission on all sales that the client receives. The agency has $10 000 to spend in total, and the client earns $M from its sales, where 100 000x M 40000y 50 + x 30 + y Use the method of Lagrange multipliers to determine how much should be spent on advertising in newspapers and on radio to maximise the agency's net income. Give your answers correct to two decimal places.
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
An advertising agency spends $x on a newspaper campaign and a further $y promoting its client’s products on local radio. It receives 15% commission on all sales that the client receives. The agency has $10 000 to spend in total, and the client earns $M from its sales, where
M= (100000x/50+x) + (40000y/30+y)
Use the method of Lagrange multipliers to determine how much should be spent on advertising in newspapers and on the radio to maximize the agency’s net income. Give your answers correct to two decimal places.
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