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Author Question: A small oil company has a refining budget of $200,000 and would like to determine the optimal ... (Read 21 times)

oliviahorn72

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on: Apr 18, 2020
A small oil company has a refining budget of $200,000 and would like to determine the optimal production plan for profitability. The following table lists the costs associated with its three products.

Marketing has a budget of $50,000, and the company has 750,000 gallons of crude oil available. Each gallon of gasoline contributes 14 cents of profits, heating oil provides 10 cents, and plastic resin 30 cents per unit. The refining process results in a ratio of two units of heating oil for each unit of gasoline produced. This problem has been modeled as a linear programming problem and solved on the computer. The output follows:



a.Give a linear programming formulation for this problem. Make the variable definitions and
constraints line up with the computer output.
b.What product mix maximizes the profit for the company using its limited resources?
c.How much gasoline is produced if profits are maximized?
d.Give a full explanation of the meaning of the three numbers listed following.
First Number: Slack or surplus of 42500 for constraint 2.
Second Number: Shadow price of 0 for constraint 1.
Third Number: An upper limit of "no limit" for the right-hand-side value constraint 1.
Operations Management ¦ Krajewski, Ritzman ¦ 7th Edition
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Marked as best answer by oliviahorn72 on Apr 18, 2020

blfontai

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Reply #1 on: Apr 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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oliviahorn72

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Reply 2 on: Apr 18, 2020
YES! Correct, THANKS for helping me on my review

amynguyen1221

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Reply 3 on: Yesterday
Excellent

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