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Name : Questions Answers Base Model: Max Profit Base Model: Amount Gasoline A Made (Gallons) Base Model: Amount Gasoline B Made (Gallons) Base Model:...
1. Dave is not absolutely sure that the "side" constraint of at least as much gas A as gas B is necessary. What is this constraint costing the company? That is, how much more revenue could Jansen earn if this constraint were ignored?
2. Dave consults the chemical experts, and they suggest that gas B could be produced with a "medium" level of TEL. The octane ratings for each feedstock with this medium level would be halfway between their low and high TEL octane ratings. Would this be a better option in terms of its optimal revenue?
3. Suppose that because of air pollution concerns, Jansen might have to lower the Reid vapor pressure maximum on each gas type (by the same amount). Use Solver Table to explore how such a change would affect Jansen's optimal revenue.
4. Dave believes the minimum required octane rating for gas A is-toe> low. He would like to know how much this minimum rating could be increased before there would be no feasible solution (still assuming that gas A uses the low TEL level).
5. Dave suspects that only the relative prices matter in the optimal blending plan. Specifically, he believes that if all unit prices of the gas types and all unit values of the feedstocks increase by the same percentage, then the optimal blending plan will remain the same. Is he correct?
Files are attached. Also please show work in excel so that I can understand as well. Thank you!
- Attachment 1
- Attachment 2
