Gce Model Questions Vol1 2024 Commerce Question 35

An advertiser runs a campaign using two media: a newspaper and a radio station. The newspaper reaches \(25\%\) of the target market of \(1{,}200{,}000\) people, at a cost of \(\text{₦}1{,}200{,}000\). The radio reaches \(40\%\) of the market, at a cost of \(\text{₦}1{,}500{,}000\). Market research shows that \(10\%\) of the target market is reached by both media when the full campaigns are purchased. The advertiser may purchase any proportion (from \(0\) to \(100\%\)) of each full campaign, and the overlap of \(10\%\) of the market remains constant whenever both media are used (i.e., the overlapping audience is always \(120{,}000\) people regardless of the fractions bought). The advertiser wants to reach at least \(600{,}000\) distinct individuals. Determine the minimum total cost required to meet this reach target, and state the fractions of the newspaper and radio campaigns that should be purchased.