Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Operation Management Expert

An oil refinery produces two products: jet fuel and gasoline. The profit for the refinery is $0.10 per barrel for jet fuel and $0.20 per barrel for gasoline. The following conditions must be met:

I) Only 10,000 barrels of crude oil are available for processing.

II) The refinery has a government contract to produce at least 1,000 barrels of jet fuel.

III) The refinery has a private contract to produce at least 2,000 barrels of gasoline.

The refinery wants to know how much of each product should be produced for maximum profit.

a) Define your decision variables as accurately as possible.

b) What is the objective function of the problem?

c) Write down three constraints addressing requirements I), II), and III).

d) Write down another constraint that guarantees for every barrel of jet fuel, at most three barrels of gasoline are produced.

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M9346096

Have any Question?


Related Questions in Operation Management

Direct-to-consumer advertising dtca is defined as ldquothe

Direct-to-consumer advertising (DTCA) is defined as “the different types of promotional efforts employed by pharmaceutical companies to provide prescription drug information to the general public through consumer-oriente ...

Read the harvard business review article titled how

Read the Harvard Business Review article titled " How Netflix Expanded to 190 Countries in 7 Years" and prepare a two-three pages report on Netflix's international expansion and growth strategy. I expect you to use the k ...

1 juan is a highly qualified biomedical researcher having

1. Juan is a highly qualified biomedical researcher. Having recently completed his education, he applies to work at a pharmaceutical company which is renowned for its fast paced innovation and aggressive growth policy. W ...

Entrepreneurs please respond to the following with a

Entrepreneurs Please respond to the following with a 250-300 word response: Analyze the characteristics of a successful entrepreneur (see pages 5-7 in textbook) and determine if you have what it takes to start your own b ...

1 there are how many pure aggregate planning

1. There are how many pure aggregate planning strategies? One Two Three More than three It depends on the organization 2. Which of the following is not a method for assessing the accuracy of forecasting models? Error Bia ...

Assignment-introduction to international businessassignment

ASSIGNMENT-Introduction to International Business Assignment Purposes/Outcomes: After completion of this assignment students will able to Evaluate what International Trade is. Demonstrate how International trade is accel ...

Write a 1 page professional memorandum per paper total of

Write a 1 page professional memorandum per paper ( total of 5 pages ), directed to UNiversity of central Florida IEMS management on forcasting , sales and operation planing , inventory control system to determine demand ...

Irsquove always wondered what happened to motorola until i

I’ve always wondered what happened to Motorola until I read the article by Ted C. Fishman. Motorola was one of America’s greatest companies 20 years ago, before it failed and split in 2010. This company was very successf ...

1 name all of the functions of inventory from your textbook

1) Name all of the functions of inventory from your textbook. How are these functions affected by lead time, specifically whether lead times are very long, or relatively short? How does an increase, or decrease in lead t ...

What are level of effort tasksa tasks with higher riskb

What are Level of Effort tasks? A) Tasks with higher risk B) Tasks that cannot be measured with a percent complete C) Tasks that can be measured with a percent complete Which of the following is not a purpose of the proj ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As