Explain what is the maximized profit, Operation Management

Assignment Help:

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".


Related Discussions:- Explain what is the maximized profit

Define the importance of employees, Discuss the importance of employees and...

Discuss the importance of employees and information technology in the delivery of service quality. Use two examples of service firms to help support your discussion

Management, AskIntroduction The present taxation law case deals with the I...

AskIntroduction The present taxation law case deals with the Individual named James Cookie (‘James’) who is a ships officer and employed by the corporation Sails International Inc

Explain one other element you feel is important to take, We know that all p...

We know that all perceptions are subjective and there is not necessarily a best way to understand any given situation. So, if there are so many moving parts to perception, how do y

What software applications can support inbound logistics, Q. What software ...

Q. What software applications can support inbound logistics? The following software applications can support inbound logistics: Bar coding for the receipt, movement and

Explain the first stage in the new-product process is, The first stage in t...

The first stage in the new-product process is idea generation. screening and evaluation. business analysis. new-product strategy development. concept testing.

Explain implementing a relational database, What benefits would Bill get fo...

What benefits would Bill get for his business from implementing a relational database? Your response must be tied directly to Bill's pizza stores.

Explain growth and globalization strategies, Given Pitney Bowes' growth and...

Given Pitney Bowes' growth and globalization strategies, analyze the forces for and against maintaining an organizational culture that supports diversity as a business imperative

Explain what are the optimal solution values of x and y, Suppose the firm i...

Suppose the firm in this example considers a second product that has a unit profit of $5 and requires 2 hours for each unit produced. Assume total production capacity remains 40. U

Conscientiousness is a big five dimension that includes, Conscientiousness ...

Conscientiousness is a big five dimension that involve the traits of being-----------------1.unworried; secure and relax/2.imaginative and broad minded/3.responsiable; dependable a

Explain delegation of authority, Explain delegation of authority. Dele...

Explain delegation of authority. Delegation of authority: Delegation may be described as the entrustment of responsibility and authority to the other and the creation of acco

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd