operate, and it can produce 400 barrels of high-grade oil, 300 barrels of medium-grade oil, and 200 barrels of low-grade oil each day. Refinery 2 is newer and more modern. It costs $25,000 per day to operate, and it can produce 300 barrels of high-grade oil, 400 barrels of medium- grade oil, and 500 barrels of low-grade oil each day. The company has orders totaling 25,000 barrels of high-grade oil, 27,000 barrels of medium-grade oil, and 30,000 barrels of low-grade oil. Set up linear minimization problem using Simplex method. Determine the days to run each refinery to minimize the cost in order to meet its order.

operate, and it can produce 400 barrels of high-grade oil, 300 barrels of medium-grade oil, and 200 barrels of low-grade oil each day. Refinery 2 is newer and more modern. It costs $25,000 per day to operate, and it can produce 300 barrels of high-grade oil, 400 barrels of medium- grade oil, and 500 barrels of low-grade oil each day. The company has orders totaling 25,000 barrels of high-grade oil, 27,000 barrels of medium-grade oil, and 30,000 barrels of low-grade oil. Set up linear minimization problem using Simplex method. Determine the days to run each refinery to minimize the cost in order to meet its order.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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