A company wants to advertise one of its new products through a media company on radio and TV. The budget is limited to $10,000 per month. Each minute of radio advertising costs $15 and each minute of TV commercial costs $300. The company likes to advertise on radio at least twice as much as on TV.
However, it is not possible to use more than 400 minutes of radio advertising per month. From past experience, advertising on TV is estimated to be 25 times more effective as on radio.
1. Formulate a linear programming model for the company to determine the optimal allocation of the budget to radio and TV advertising
2. Find the optimal solution graphically. How much profit for the solution?