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Riverside Oil Company in eastern Kentucky produces 3 different grades of gasoline. They are regular, premium, and supreme grades. Each barrel of regular grade sells for $82 while premium grade sells for $88 per barrel and supreme grade sells for $89 per barrel. Petroleum component A, B, and C are purchased to be blended together for the production of three different grades of gasoline. The availability and cost of petroleum components A, B, and C are given in the following table. Petroleum Component Barrels available Cost per Barrel A 10000 $32 B 12000 $45 C 15000 $39 Also, the blending specifications for these three grades of gasoline are as follows: Product Blending Specification Regular at least 25% of A; no more than 30% of B; no restriction on C Premium at least 35% of B; no restriction on A and C Supreme no more than 25% of A; no restriction on B; at least 50% on C Our goal is to maximize the profit from this production process. a.List the linear program for this problem. b.Use "Management Scientist" software to solve the program and report your optimal way to blend these three petroleum components for production. c.What is the maximized profit? Use Only a WORD file as attachment to submit your assignment. Only one attachment file (a WORD file) can be submitted for grading. You do NOT need to send in your working file from the software "Management Scientist".
Explain Quality Control. Quality Control: Control is a system for measuring and inspecting (checking) a phenomenon. This suggests when to inspect, how often to inspect and h
A Make or Buy Analysis Managers at Wagner Fabricating Company are reviewing the economic feasibility of manufacturing a part that it currently purchases from a supplier. Forecas
As the investment community watches to see if Blockbuster will be able to sustain a double-digit growth rate under the new direction, the CEO is reviewing his actions as the strate
Discuss how laws tie into business ethics. Support your ideas with research and specific examples of laws discussed in your text.
Write a one/two-¬page discussion of training program development costs discussing how companies may find ways to make training programs more cost effective.
1. Suggest productivity measurements which operations managers might consider important to be used in a: (a) hotel (b) University (c) Department store (d) Hospital
Jabus and Kelsey are a married couple with no children. Each earns $120,000 per year, and their combined household adjusted gross income is $240,000. Anthony and Caitlin, who are m
What is the yield to maturity of a bond that pays an 3% coupon rate, matures in 15 years, and is currently selling for $850? a.) 8.75% b.) 4.37% c.) 4.39% d.) 17.50%
States Gross National Product (GNP) Gross Domestic Product (GDP) adjusted for foreign earnings.
A team has just completed a SWOT analysis of the company. Briefly state what this analysis should be used for in the context of strategy.
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